Xcel Energy Subsidiary Northern States Power Co.-Minnesota Announces Debt Financing

Xcel Energy Inc. (NYSE: XEL) subsidiary Northern States Power Co.-Minnesota (NSP-Minnesota) today announced that it closed an offering of $400.0 million of 2.60% first mortgage bonds due May 15, 2023. The bonds are redeemable at any time subject to certain “make whole” provisions prior to November 15, 2022. On or after this date, the bonds are callable at par.

BNY Mellon Capital Markets, LLC, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., and Morgan Stanley & Co. LLC, acted as joint book-running managers for the offering.

This announcement does not constitute an offer to sell or the solicitation of an offer to buy these securities nor shall there be any sale of these securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering is being made only by means of a prospectus and related prospectus supplement. A prospectus supplement related to the offering has been filed with the Securities and Exchange Commission. Copies of the prospectus supplement and accompanying prospectus for the offering may be obtained on the Securities and Exchange Commission’s website at www.sec.gov. Alternatively, any underwriter or dealer participating in the offering will send you the prospectus if you request it by calling BNY Mellon Capital Markets, LLC, toll free at 1-800-269-6864, Credit Suisse Securities (USA) LLC, toll free at 1-800-221-1037, Deutsche Bank Securities Inc., toll free at 1-800-503-4611, or Morgan Stanley & Co. LLC, toll free at 1-866-718-1649.

Xcel Energy (NYSE: XEL) is a major U.S. electricity and natural gas company that provides a comprehensive portfolio of energy-related products and services to 3.4 million electricity customers and 1.9 million natural gas customers through its regulated operating companies in eight Western and Midwestern states. Company headquarters are located in Minneapolis.