WASHINGTON (dpa-AFX) - Xcel Energy Inc. (XEL) Monday said it has commenced public offering of $1.2 billion of shares.
Subject to certain conditions, all shares are expected to be borrowed by the forward purchasers, Barclays Bank PLC and Bank of America, N.A., from third parties and sold to the underwriters.
Barclays and BofA Securities are acting as joint book-running managers for this offering.
Related to the offering, Xcel Energy will issue its shares to Barclays Bank and Bank of America at a price the underwriters purchase the shares in the offering.
The underwriters may offer Xcel Energy shares on the Nasdaq, in the over-the-counter market.
Settlement of the forward sale agreements is expected to occur on or prior to June 30, 2026.
The offering is being made pursuant to Xcel Energy's effective shelf registration statement filed with the Securities and Exchange Commission (SEC).
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