TXNM ENERGY INC (TXNM): debt financing — PNM enters $120M term loan to refinance maturing 2024 term loan

TXNM ENERGY INC

$120M term loan effective Nov 10, 2025, matures May 10, 2027.
Proceeds to refinance portion of outstanding 2024 term loan due Nov 10, 2025.
Loan includes covenant: consolidated debt-to-capitalization ratio ≤ 0.65:1.00.
Lenders include U.S. Bank and KeyBank National Association as joint lead arrangers.

item 1.01 item 2.03 item 9.01

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 term loan of $120.0 million with U.S. Bank National Association maturing May 10, 2027.

Instrument: term loan
Principal: $120.0 million
Counterparty: U.S. Bank National Association
Maturity: May 10, 2027
Event: incurrence

Exact text from the filing

entered into a $120.0 million term loan agreement (the "Term Loan"), among PNM, the lenders party thereto and U.S. Bank National Association, as administrative agent

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Source: SEC EDGAR

accession 0001108426-25-000114

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