---
schema_version: "secwatch.filing_event.v1"
accession: "0001108426-25-000122"
form_type: "8-K"
ticker: "TXNM"
cik: "0001108426"
company_name: "TXNM ENERGY INC"
filed_at: "2025-12-19T23:59:59+00:00"
generated_at: "2026-05-16T12:31:19.955724+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# TXNM Energy subsidiaries issue $70M bonds, extend credit lines, and complete $91.9M pension transfer

## Summary
- TNMP issued $70M of 4.69% first mortgage bonds due 2031; proceeds for debt repayment and capex.
- TXNM, PNM, and TNMP credit agreements extended to March 29, 2030; TNMP revolver increased to $300M.
- TXNM closed $91.9M pension transfer with Delaware Life; expects ~$60M non-cash charge to net income.
- Merger with Blackstone Infrastructure will not trigger change of control under amended credit agreements or 2025H bonds.
- One lender in each credit facility declined to extend commitment; will remain through original maturity.

## SEC filing metadata
- accession: 0001108426-25-000122
- form_type: 8-K
- ticker: TXNM
- cik: 0001108426
- company_name: TXNM ENERGY INC
- filed_at: 2025-12-19T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1108426/000110842625000122/0001108426-25-000122-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/22767/000110842625000122/pnm-20251219.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001108426-25-000122
- JSON: https://secwatch.observer/filing/0001108426-25-000122.json
- Plain text: https://secwatch.observer/filing/0001108426-25-000122.txt

## Key facts
- Material Agreements
  TXNM ENERGY INC amended Fifteenth Amendment to Credit Agreement with Wells Fargo Bank, National Association valued at $300.0 million (effective 2025-12-19).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Wells Fargo Bank, National Association
  - Value: $300.0 million
  - Effective: 2025-12-19
  source text: On December 19, 2025, TXNM entered into a Fifteenth Amendment to Credit Agreement (the “TXNM Revolver Amendment”) amending its $300.0 million revolving credit agreement (as amended, the “TXNM Revolver”), among TXNM, the lenders party thereto and Wells Fargo Bank, National Association (“Wells Fargo”), as administrative agent, which has an initial maturity date of March 30, 2029 with two extension options that each allow for an extension of the maturity for one additional year (the “TXNM Extension Options”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1108426/000110842625000122/0001108426-25-000122-index.htm
- Material Agreements
  TXNM ENERGY INC entered into Twenty-Sixth Supplemental Indenture with U.S. Bank Trust Company, National Association valued at $70,000,000 aggregate principal amount of its 4.69% First Mortgage Bonds, due December 18, 2031, Ser (effective 2025-12-18).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: U.S. Bank Trust Company, National Association
  - Value: $70,000,000 aggregate principal amount of its 4.69% First Mortgage Bonds, due December 18, 2031, Ser
  - Effective: 2025-12-18
  source text: On December 18, 2025, TXNM Energy, Inc.’s (“TXNM”) indirect wholly-owned subsidiary, Texas-New Mexico Power Company (“TNMP”), issued $70,000,000 aggregate principal amount of its 4.69% First Mortgage Bonds, due December 18, 2031, Series 2025H (the “2025H Bonds”) in a private placement in reliance on an exemption from registration under the Securities Act of 1933, as amended (the “Securities Act”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1108426/000110842625000122/0001108426-25-000122-index.htm

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