Xcel Energy Prices $2.20 Billion Convertible Notes Offering

03:07 AM EST, 11/03/2026 (MT Newswires) -- Xcel Energy (XEL) said Monday it has priced its upsized offering of $2.20 billion of its 2.625% senior convertible notes due 2027. The conversion rate will initially be 11.4596 shares of common stock per $1,000 principal amount of the notes, which is equivalent to an initial conversion price of about $87.26 per share. The offering, which was increased from $2 billion, is expected to close Thursday. Underwriters have been granted a 13-day option to purchase up to an additional $300 million in notes. Net proceeds are estimated to be about $2.18 billion, or about $2.48 billion if the underwriters fully exercise their overallotment option. The proceeds will be used to repay short-term borrowings, including commercial paper and a portion of the company's 364-day term loan, as well as for general corporate purposes.