---
schema_version: "secwatch.filing_event.v1"
accession: "0001108426-25-000002"
form_type: "8-K"
ticker: "TXNM"
cik: "0001108426"
company_name: "TXNM ENERGY INC"
filed_at: "2025-01-22T23:59:59+00:00"
generated_at: "2026-05-27T18:28:07.481412+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001108426-25-000002
- form_type: 8-K
- ticker: TXNM
- cik: 0001108426
- company_name: TXNM ENERGY INC
- filed_at: 2025-01-22T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1108426/000110842625000002/0001108426-25-000002-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/81023/000110842625000002/pnm-20250121.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001108426-25-000002
- JSON: https://secwatch.observer/filing/0001108426-25-000002.json
- Plain text: https://secwatch.observer/filing/0001108426-25-000002.txt

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