NEW BUSINESS

Parallel Technologies Inc., a Minneapolis-based technology and integration firm, has invested in a 30,000-square-foot office building in Eden Prairie. The new facility will help support the 25 additional employees hired this year and showcase the company's Parallel Integration Center.

Digi-Key Corp., a Thief River Falls, Minn.-based electronic components distributor, reached a global distribution agreement with Everlight Electronics Co. Ltd., of Tucheng, Taipei. Everlight makes through-hole and surface mounted LEDs, optical sensors and infrared components, lighting fixtures and digital LED displays.

DEBT AND EQUITIES

Xcel Energy Inc., Minneapolis, said that its Southwestern Public Service Co. (SPS) subsidiary closed on an offering of $200 million in aggregate principal amount of its 4.5 percent first mortgage bonds due Aug. 15, 2041. SPS intends to use a portion of net proceeds from sale of the bonds to repay short-term debt borrowings incurred to fund daily operational needs and to redeem $57.3 million of its outstanding 5.75 percent Pollution Control Revenue Refunding Bonds due Sept. 1, 2016. The balance will be used for general corporate purposes.