secwatch.observer — SEC 8-K summary
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Issuer:     TXNM ENERGY INC (TXNM)
CIK:        0001108426
Form:       8-K
Filed at:   2025-12-10T23:59:59+00:00
Accession:  0001108426-25-000120
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TXNM Energy issues $350M of 7% junior subordinated convertible notes due 2056
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- $350M aggregate principal at 7.000% fixed through Jul 31, 2031, then 5Y Treasury + 3.254% floor 7.000%.
- Notes mature Jul 31, 2056; interest payable semi-annually Jan 31/Jul 31 starting Jul 31, 2026.
- Company may defer interest for up to 20 consecutive semiannual periods without triggering default.
- Notes rank junior to all senior debt and equally with existing 5.75% junior subordinated notes due 2054.
- Redemption at par before First Reset Date; after reset on interest dates; tax/equity credit changes allow whole redemption at up to 102%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1108426/000110842625000120/0001108426-25-000120-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1108426/000110842625000120/pnm-20251210.htm
  HTML page:      https://secwatch.observer/filing/0001108426-25-000120

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