PUBLIC SERVICE CO OF COLORADO 8-K

What Happened

• Public Service Company of Colorado (PSCo) announced on March 13, 2026 that it issued $700 million of 4.15% First Mortgage Bonds, Series No. 45 due March 13, 2029, and $600 million of 5.05% First Mortgage Bonds, Series No. 46 due June 15, 2036.
• The bonds were sold under an underwriting agreement led by BNY Mellon Capital Markets, LLC (with CIBC World Markets, J.P. Morgan Securities, Scotia Capital (USA) and TD Securities as representatives) and issued pursuant to PSCo’s Form S-3 registration statement; a prospectus supplement was filed March 11, 2026.
• The bonds are governed by PSCo’s existing Indenture dated October 1, 1993, as supplemented by Supplemental Indenture No. 38 dated March 1, 2026.

Key Details

• Total proceeds: $1.3 billion ( $700M Series 45 + $600M Series 46 ).
• Coupon rates and maturities: 4.15% due March 13, 2029; 5.05% due June 15, 2036.
• Offering documentation: prospectus supplement filed March 11, 2026; 8-K filed March 13, 2026 to furnish offering exhibits and legal opinion.
• Counsel opinion: an opinion regarding validity of the securities was filed as an exhibit.

Why It Matters

• This transaction provides PSCo with $1.3 billion of financing through secured (first mortgage) bonds, increasing the company’s long-term debt outstanding.
• Investors should note the fixed interest obligations: the new bonds carry annual coupon costs of roughly $59.4 million combined (approximate = $700M×4.15% + $600M×5.05%), which will affect future interest expense and cash flow needs through 2029 and 2036.
• The filing supplies the official offering documents and legal opinions for investors seeking more detail on terms and security for the bonds.