secwatch.observer — SEC 8-K summary
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Issuer:     TXNM ENERGY INC (TXNM)
CIK:        0001108426
Form:       8-K
Filed at:   2024-05-10T23:59:59+00:00
Accession:  0001108426-24-000049
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1108426/000110842624000049/0001108426-24-000049-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/81023/000110842624000049/pnm-20240510.htm
  HTML page:      https://secwatch.observer/filing/0001108426-24-000049

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