MINNEAPOLIS--(BUSINESS WIRE)--

Southwestern Public Service Company announced today that it has submitted a redemption notice to The Depository Trust Company, as registered holder, to redeem all of its outstanding Series G Senior Notes, 8.75% due 2018 (Notes) on August 30, 2017 (Redemption Date) at the “make whole” redemption price specified in the Notes, which will be calculated three business days prior to the Redemption Date in accordance with the terms of the Notes and related indenture, plus accrued and unpaid interest to the Redemption Date. The aggregate principal amount of Notes currently outstanding is $250,000,000. The company expects to issue new debt to fund the redemption of the Notes.

This press release does not constitute a notice of redemption of the Notes. Holders of the Notes should refer to the notice of redemption to be delivered to The Depository Trust Company, as the registered holder of the Notes.

This press release is not an offer to sell or a solicitation of an offer to buy any securities.

Forward Looking Statements

Except for the historical statements contained in this release, the matters discussed herein, including the company’s plan to redeem the Notes and issue new debt, are forward-looking statements that are subject to certain risks, uncertainties and assumptions. Such forward-looking statements are intended to be identified in this document by the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “objective,” “outlook,” “plan,” “project,” “possible,” “potential,” “should” and similar expressions. Actual results may vary materially. Forward-looking statements speak only as of the date they are made and we expressly disclaim any obligation to update any forward-looking information. The following factors, in addition to those discussed in Xcel Energy’s Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2016 and subsequent securities filings, could cause actual results to differ materially from management expectations as suggested by such forward-looking information: general economic conditions, including inflation rates, monetary fluctuations and their impact on capital expenditures and the ability of Xcel Energy Inc. and its subsidiaries (collectively, Xcel Energy) to obtain financing on favorable terms; business conditions in the energy industry; including the risk of a slow down in the U.S. economy or delay in growth, recovery, trade, fiscal, taxation and environmental policies in areas where Xcel Energy has a financial interest; customer business conditions; actions of credit rating agencies; competitive factors including the extent and timing of the entry of additional competition in the markets served by Xcel Energy; unusual weather; effects of geopolitical events, including war and acts of terrorism; cyber security threats and data security breaches; state, federal and foreign legislative and regulatory initiatives that affect cost and investment recovery, have an impact on rates or have an impact on asset operation or ownership or impose environmental compliance conditions; structures that affect the speed and degree to which competition enters the electric and natural gas markets; costs and other effects of legal and administrative proceedings, settlements, investigations and claims; financial or regulatory accounting policies imposed by regulatory bodies; outcomes of regulatory proceedings; availability or cost of capital; and employee work force factors.

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