PNM signs $195M term loan due July 2026 to refinance revolver balances

TXNM ENERGY INC

Public Service Co. of New Mexico entered a $195M term loan agreement on Jan 21, 2025.
Loan matures July 21, 2026; proceeds will refinance part of revolving credit balances and for general corporate purposes.
Interest rate: SOFR + 0.90% for SOFR loans, Base Rate + 0.0% for Base Rate loans.
Covenant requires consolidated debt-to-capitalization ratio ≤ 0.65 to 1.00.
Canadian Imperial Bank of Commerce, New York Branch serves as administrative agent.

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