---
schema_version: "secwatch.filing_event.v1"
accession: "0001108426-26-000044"
form_type: "8-K"
ticker: "TXNM"
cik: "0001108426"
company_name: "TXNM ENERGY INC"
filed_at: "2026-07-21T20:20:34+00:00"
generated_at: "2026-07-21T20:22:14.872690+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.45
calibrated_materiality_score: 0.45
confidence: "high"
source: SEC EDGAR
---

# PNM enters $195M term loan to refinance existing debt, matures Jan 2028

## Summary
- Public Service Company of New Mexico (PNM) entered a $195M term loan agreement on July 21, 2026.
- Loan matures January 21, 2028; proceeds used to refinance PNM's 2025 term loan due July 21, 2026.
- Interest rate: SOFR + 0.90% or Base Rate; includes debt-to-capitalization covenant ≤ 0.65:1.
- Canadian Imperial Bank of Commerce, New York Branch serves as administrative agent.
- Customary events of default, cross-default, and change of control provisions included.

## SEC filing metadata
- accession: 0001108426-26-000044
- form_type: 8-K
- ticker: TXNM
- cik: 0001108426
- company_name: TXNM ENERGY INC
- filed_at: 2026-07-21T20:20:34+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.45
- calibrated_materiality_score: 0.45
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1108426/000110842626000044/0001108426-26-000044-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/81023/000110842626000044/pnm-20260721.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001108426-26-000044
- JSON: https://secwatch.observer/filing/0001108426-26-000044.json
- Plain text: https://secwatch.observer/filing/0001108426-26-000044.txt

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