May 18, 2020
Hunton Andrews Kurth LLP advised the underwriters on an SEC-registered offering by Southwestern Public Service Company (the “Company”) of $350 million aggregate principal amount of first mortgage bonds due 2050. An amount equal to the net proceeds of the offering will be used to finance or refinance, in whole or in part, the company’s existing and future Eligible Green Expenditures and used in the development, construction and operation of, as well as transmission infrastructure to support, the Company’s 478 megawatt wind generation facility in Texas for the Hale Wind Project.
SPS, a wholly owned subsidiary of Xcel Energy Inc., is a utility engaged primarily in the generation, purchase, transmission, distribution, and sale of electricity in portions of Texas and New Mexico. SPS provides electric utility service to approximately 0.4 million customers in Texas and New Mexico.
The Hunton Andrews Kurth team included Pete O’Brien, Christina Kwon, Brendan P. Harney and Flavia Vehbiu. Robert McNamara and Tim Strother provided tax advice.