---
schema_version: "secwatch.filing_event.v1"
accession: "0001108426-24-000049"
form_type: "8-K"
ticker: "TXNM"
cik: "0001108426"
company_name: "TXNM ENERGY INC"
filed_at: "2024-05-10T23:59:59+00:00"
generated_at: "2026-06-02T03:20:33.492851+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# PNM Resources subsidiary enters $200M term loan agreement due Nov 2025

## Summary
- Public Service Company of New Mexico borrows $200M under term loan due November 10, 2025.
- Interest: SOFR + 0.90% (SOFR loans); Base Rate + 0.0% (Base Rate loans).
- Proceeds to refinance revolving credit balances and for general corporate purposes.
- Covenant: consolidated debt-to-capitalization ratio <= 0.65:1 tested quarterly.
- Loan includes customary events of default, cross-default, and change of control provisions.

## SEC filing metadata
- accession: 0001108426-24-000049
- form_type: 8-K
- ticker: TXNM
- cik: 0001108426
- company_name: TXNM ENERGY INC
- filed_at: 2024-05-10T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1108426/000110842624000049/0001108426-24-000049-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/81023/000110842624000049/pnm-20240510.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001108426-24-000049
- JSON: https://secwatch.observer/filing/0001108426-24-000049.json
- Plain text: https://secwatch.observer/filing/0001108426-24-000049.txt

## Key facts
- Debt Financings
  TXNM ENERGY INC incurred term loan of $200.0 million with U.S. Bank National Association at PNM must pay interest on its borrowings under the Term Loan from time to time fo maturing on or before November 10, 2025.
  - Instrument: term loan
  - Principal: $200.0 million
  - Counterparty: U.S. Bank National Association
  - Rate: PNM must pay interest on its borrowings under the Term Loan from time to time fo
  - Maturity: on or before November 10, 2025
  - Event: incurrence
  source text: On May 10, 2024, Public Service Company of New Mexico ("PNM"), a wholly-owned subsidiary of PNM Resources, Inc., entered into a $200.0 million term loan agreement (the "Term Loan"), among PNM, the lenders party thereto and U.S. Bank National Association, as administrative agent (the "Administrative Agent").
  evidence_url: https://www.sec.gov/Archives/edgar/data/1108426/000110842624000049/0001108426-24-000049-index.htm
- Material Agreements
  TXNM ENERGY INC entered into Term Loan with lenders party thereto and U.S. Bank National Association, as administrative agent valued at $200.0 million (effective 2024-05-10).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: lenders party thereto and U.S. Bank National Association, as administrative agent
  - Value: $200.0 million
  - Effective: 2024-05-10
  source text: On May 10, 2024, Public Service Company of New Mexico (“PNM”), a wholly-owned subsidiary of PNM Resources, Inc., entered into a $200.0 million term loan agreement (the “Term Loan”), among PNM, the lenders party thereto and U.S. Bank National Association, as administrative agent (the “Administrative Agent”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1108426/000110842624000049/0001108426-24-000049-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.