SOUTHWESTERN PUBLIC SERVICE CO 8-K

What Happened
Southwestern Public Service Company (SPS) announced on June 29, 2026 that it issued $650,000,000 of 5.300% First Mortgage Bonds, Series No. 13 due 2036 and $550,000,000 of 5.875% First Mortgage Bonds, Series No. 14 due 2056 (total $1.2 billion). The bonds were issued under SPS’s Form S-3 registration statement (File No. 333-278797-01) and a prospectus supplement filed June 24, 2026. The issuance was completed pursuant to the Indenture dated August 1, 2011 and a Supplemental Indenture No. 13 dated June 15, 2026. The offering was managed by several underwriters, led by BMO Capital Markets, BofA Securities, Morgan Stanley, RBC Capital Markets and Wells Fargo Securities.

Key Details

• Total principal: $1.200 billion (Series 13: $650M; Series 14: $550M).
• Coupon rates and maturities: 5.300% due 2036; 5.875% due 2056.
• Governing documents: Indenture dated August 1, 2011; Supplemental Indenture No. 13 dated June 15, 2026.
• Administrative parties: Trustee — U.S. Bank Trust Company, N.A. (successor to U.S. Bank NA); lead underwriting banks listed above.
• Legal opinions and related documents were filed as exhibits to the 8-K for incorporation by reference into the registration statement.

Why It Matters
This filing shows SPS has raised $1.2 billion of long-term debt at fixed interest rates, which will affect the company’s interest obligations and capital structure for decades. For investors, the key takeaways are the size of the financing, the fixed coupons (5.300% and 5.875%) and long maturities (2036 and 2056), all of which influence future cash interest payments and credit/debt metrics. The 8-K primarily documents the issuance and related legal/administrative paperwork rather than the use of proceeds.