8-K
filed March 28, 2024, 7:59 PM ET
ticker TXNM
CIK 0001108426
debt
confidence high
sentiment neutral
materiality 0.55
TXNM ENERGY INC (TXNM): debt financing — TNMP issues $285M of first mortgage bonds in private placement; $117M closed March 28
TXNM ENERGY INC
- TNMP issued $32M 5.26% Series 2024A bonds due 2029 and $85M 5.55% Series 2024B bonds due 2036 on March 28, 2024.
- TNMP agreed to issue $40M 5.65% Series 2024D bonds due 2039 and $128M 5.79% Series 2024E bonds due 2054 by July 1, 2024.
- Proceeds from the $285M total offering will repay existing debt and fund capital expenditures and general corporate purposes.
- Bonds are secured by a first mortgage on substantially all TNMP property; debt-to-capitalization ratio covenant of ≤65% applies.
- Issuer is PNM Resources subsidiary Texas-New Mexico Power Company; parent PNM trades on NYSE (PNM).
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 $128.0 million aggregate principal amount at 5.79% maturing July 1, 2054.
- Instrument
- senior notes
- Principal
- $128.0 million aggregate principal amount
- Rate
- 5.79%
- Maturity
- July 1, 2054
- Event
- incurrence
Exact text from the filing
$128.0 million aggregate principal amount of its 5.79% First Mortgage Bonds, due July 1, 2054, Series 2024E
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
TXNM ENERGY INC incurred senior notes of $85.0 million aggregate principal amount at 5.55% maturing March 28, 2036.
- Instrument
- senior notes
- Principal
- $85.0 million aggregate principal amount
- Rate
- 5.55%
- Maturity
- March 28, 2036
- Event
- incurrence
Exact text from the filing
$85.0 million aggregate principal amount of its 5.55% First Mortgage Bonds, due March 28, 2036, Series 2024B
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
TXNM ENERGY INC incurred senior notes of $40.0 million aggregate principal amount at 5.65% maturing July 1, 2039.
- Instrument
- senior notes
- Principal
- $40.0 million aggregate principal amount
- Rate
- 5.65%
- Maturity
- July 1, 2039
- Event
- incurrence
Exact text from the filing
$40.0 million aggregate principal amount of its 5.65% First Mortgage Bonds, due July 1, 2039, Series 2024D
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
TXNM ENERGY INC incurred senior notes of $32.0 million aggregate principal amount at 5.26% maturing March 28, 2029.
- Instrument
- senior notes
- Principal
- $32.0 million aggregate principal amount
- Rate
- 5.26%
- Maturity
- March 28, 2029
- Event
- incurrence
Exact text from the filing
$32.0 million aggregate principal amount of its 5.26% First Mortgage Bonds, due March 28, 2029, Series 2024A
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.97
TXNM ENERGY INC entered into TNMP Bond Purchase Agreement with institutional investors party thereto valued at $285,000,000 aggregate principal amount of first mortgage bonds; includes $32,000,000 5.26% Series 2 (effective 2024-03-28).
- Action
- entry
- Agreement
- notes offering
- Counterparty
- institutional investors party thereto
- Value
- $285,000,000 aggregate principal amount of first mortgage bonds; includes $32,000,000 5.26% Series 2
- Effective
- 2024-03-28
Exact text from the filing
Texas-New Mexico Power Company (“TNMP”) 2024 Bond Purchase Agreement On March 28, 2024, TNMP entered into a Bond Purchase Agreement (the “TNMP Bond Purchase Agreement”) with the institutional investors party thereto for the sale of $285.0 million aggregate principal amount of TNMP first mortgage bonds offered in a private placement transaction.
View on SEC.gov
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