{"schema_version":"secwatch.filing_event.v1","accession":"0001108426-23-000041","form_type":"8-K","ticker":"TXNM","cik":"0001108426","company_name":"TXNM ENERGY INC","filed_at":"2023-07-03T23:59:59+00:00","discovered_at":"2026-05-14T18:03:33.157580+00:00","generated_at":"2026-06-13T13:05:50.321445+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"PNM Resources enters $500M term loan to refinance existing debt; merger assignment clause included","bullets":["$500M term loan, matures June 30, 2026; proceeds used to prepay existing $500M term loan without penalty.","Interest rate at Pricing Level II (SOFR + 1.35% or Base Rate + 0.35%), adjustable based on debt ratings.","Covenant: consolidated debt-to-capitalization ratio ≤ 0.70; customary events of default and cross-default.","Upon consummation of pending Avangrid merger, PNMR assigns all loan rights and obligations to Avangrid."],"urls":{"canonical":"https://secwatch.observer/filing/0001108426-23-000041","json":"https://secwatch.observer/filing/0001108426-23-000041.json","markdown":"https://secwatch.observer/filing/0001108426-23-000041.md","text":"https://secwatch.observer/filing/0001108426-23-000041.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1108426/000110842623000041/0001108426-23-000041-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1108426/000110842623000041/pnm-20230703.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-13T13:05:50.321445+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"696ab8022f49b4719cd33e01c58ca0eae273f404","claim":"TXNM ENERGY INC incurred term loan of $500 million with Wells Fargo Bank, National Association as Administrative Agent and lenders maturing June 30, 2026.","evidence_excerpt":"On June 30, 2023, PNM Resources, Inc., a New Mexico corporation (“PNMR”), entered into a $500 million term loan agreement (the “PNMR 2023 Term Loan”) among PNMR, the lenders party thereto and Wells Fargo Bank, National Association (“Wells Fargo”), as Administrative Agent.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1108426/000110842623000041/0001108426-23-000041-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$500 million"},{"label":"Counterparty","value":"Wells Fargo Bank, National Association as Administrative Agent and lenders"},{"label":"Maturity","value":"June 30, 2026"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"1b447fd8197142b98c67664b4ac60cf020f86b6a","claim":"TXNM ENERGY INC entered into PNMR 2023 Term Loan with the lenders party thereto and Wells Fargo Bank, National Association, as Administrative Agent valued at $500 million (effective 2023-06-30).","evidence_excerpt":"On June 30, 2023, PNM Resources, Inc., a New Mexico corporation (“PNMR”), entered into a $500 million term loan agreement (the “PNMR 2023 Term Loan”) among PNMR, the lenders party thereto and Wells Fargo Bank, National Association (“Wells Fargo”), as Administrative Agent.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1108426/000110842623000041/0001108426-23-000041-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"the lenders party thereto and Wells Fargo Bank, National Association, as Administrative Agent"},{"label":"Value","value":"$500 million"},{"label":"Effective","value":"2023-06-30"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}