TXNM ENERGY INC (TXNM): debt financing — PNM Resources subsidiaries issue $385M in debt: PNM $200M notes, TNMP $185M bonds

TXNM ENERGY INC

PNM issued $200M senior unsecured notes: $150M at 5.51% due 2035, $50M at 5.92% due 2053.
TNMP issued $185M first mortgage bonds: $130M at 5.01% due 2033, $55M at 5.47% due 2053.
Proceeds from both issuances used for debt repayment, capex, and general corporate purposes.
Both issuances are private placements exempt from Securities Act registration.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

TXNM ENERGY INC incurred senior notes of $200.0 million aggregate principal amount at 5.51% and 5.92% maturing due April 28, 2035 and due April, 2053.

Instrument: senior notes
Principal: $200.0 million aggregate principal amount
Rate: 5.51% and 5.92%
Maturity: due April 28, 2035 and due April, 2053
Event: incurrence

Exact text from the filing

On April 28, 2023, PNM entered into a Note Purchase Agreement (the “PNM Note Purchase Agreement”) with the institutional investors party thereto for the sale of $200.0 million aggregate principal amount of senior unsecured notes in the following series and denominations: (i) $150.0 million aggregate principal amount of its 5.51% Senior Unsecured Notes, Series A, due April 28, 2035, and (ii) $50.0 million aggregate principal amount of its 5.92% Senior Unsecured Notes, Series B, due April, 2053

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

TXNM ENERGY INC incurred mortgage of $185.0 million aggregate principal amount at 5.01% and 5.47% maturing due April 28, 2033 and due July 28, 2053.

Instrument: mortgage
Principal: $185.0 million aggregate principal amount
Rate: 5.01% and 5.47%
Maturity: due April 28, 2033 and due July 28, 2053
Event: incurrence

Exact text from the filing

On April 28, 2023, TNMP entered into a Bond Purchase Agreement (the “TNMP Bond Purchase Agreement”) with the institutional investors party thereto for the sale of $185.0 million aggregate principal amount of TNMP first mortgage bonds offered in a private placement transaction.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

TXNM ENERGY INC entered into 2023 Bond Purchase Agreement with the institutional investors party thereto valued at $185.0 million aggregate principal amount of first mortgage bonds (effective 2023-04-28).

Action: entry
Agreement: notes offering
Counterparty: the institutional investors party thereto
Value: $185.0 million aggregate principal amount of first mortgage bonds
Effective: 2023-04-28

Exact text from the filing

On April 28, 2023, TNMP entered into a Bond Purchase Agreement (the "TNMP Bond Purchase Agreement") with the institutional investors party thereto for the sale of $185.0 million aggregate principal amount of TNMP first mortgage bonds offered in a private placement transaction.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

TXNM ENERGY INC entered into 2023 Note Purchase Agreement with the institutional investors party thereto valued at $200.0 million aggregate principal amount of senior unsecured notes (effective 2023-04-28).

Action: entry
Agreement: notes offering
Counterparty: the institutional investors party thereto
Value: $200.0 million aggregate principal amount of senior unsecured notes
Effective: 2023-04-28

Exact text from the filing

On April 28, 2023, PNM entered into a Note Purchase Agreement (the "PNM Note Purchase Agreement") with the institutional investors party thereto for the sale of $200.0 million aggregate principal amount of senior unsecured notes in the following series and denominations: (i) $150.0 million aggregate principal amount of its 5.51% Senior Unsecured Notes, Series A, due April 28, 2035, and (ii) $50.0 million aggregate principal amount of its 5.92% Senior Unsecured Notes, Series B, due April, 2053 (the "PNM 2023 SUNs").

View on SEC.gov

101 debt financings filed in the last 30 days. Browse all debt financings →

TXNM ENERGY INC filing history →

Source: SEC EDGAR

accession 0001108426-23-000019

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