Xcel Energy announced the launch of cash tender offers to repurchase up to $345 million in outstanding first mortgage bonds issued by its wholly owned subsidiary, Northern States Power Company (Minnesota). The offers cover three bond series maturing between 2044 and 2046 and will expire on December 19, 2025, with settlement expected on December 24, 2025. The transaction is subject to a maximum purchase amount and defined acceptance priority levels, with no proration within accepted series.