Xcel Energy issues $2.5 billion in 2.625% convertible senior notes due 2027
XEL•Xcel Energy issued $2.5 billion of convertible senior notes on November 5, 2026, including a fully exercised $300 million purchaser option. The notes carry 2.63% annual interest and mature December 15, 2027.
1. Note terms
The senior unsecured notes pay interest semiannually and have an initial conversion price of approximately $87.26 per share. Conversions require cash settlement up to the principal amount.
2. Holder protections
The notes cannot be redeemed early. Holders may require cash repurchase at 100% of principal, plus accrued interest, following qualifying fundamental changes.
