Xcel Energy Plans $2 Billion Convertible Notes Offering to Repay Short-Term Debt

07:26 AM EST, 11/02/2026 (MT Newswires) -- Xcel Energy (XEL) said Monday it plans to offer $2 billion in convertible senior notes due 2027 through a private placement. The company said it may also grant initial purchasers an option to buy up to an additional $300 million in notes, with the option exercisable within 13 days of the initial issuance. Xcel Energy intends to use the proceeds to repay short-term borrowings, including commercial paper and a portion of its 364-day term loan, and for general corporate purposes. The company said the notes will be senior unsecured obligations, with interest payable semiannually. Xcel Energy said the interest rate and initial conversion price will be determined when the offering is priced.