PNM Resources Files 8-K for Material Definitive Agreement

TL;DR

PNM Resources just filed an 8-K for a big financial deal - check the details!

AI Summary

On April 1, 2024, Public Service Company of New Mexico (PNM) entered into a Material Definitive Agreement related to a direct financial obligation. The filing also includes financial statements and exhibits, indicating a significant financial event for the company.

Why It Matters

This filing signals a significant financial commitment or obligation for Public Service Company of New Mexico, which could impact its financial health and future operations.

Risk Assessment

Risk Level: medium — Material definitive agreements and financial obligations can introduce financial risks and uncertainties for a company.

Key Players & Entities

• Public Service Company of New Mexico (company) — Filer
• PNM Resources Inc (company) — Parent Company
• Texas New Mexico Power Co (company) — Subsidiary
• April 1, 2024 (date) — Filing Date

FAQ

Key Financial Figures

• $300.0 million — R Revolver") amending and restating its $300.0 million revolving credit agreement, among PNMR,
• $400.0 m — t facility from $300.0 million to up to $400.0 million, subject to certain conditions in
• $90.0 million — under a letter of credit facility up to $90.0 million. The above description of the PNMR Re
• $400.0 million — M Revolver") amending and restating its $400.0 million revolving credit agreement, among PNM,
• $600.0 m — t facility from $400.0 million to up to $600.0 million, subject to certain conditions in
• $120.0 million — under a letter of credit facility up to $120.0 million. The above description of the PNM Rev
• $200.0 million — wned subsidiary of PNMR, entered into a $200.0 million secured credit agreement among TNMP, th
• $225.0 m — t facility from $200.0 million to up to $225.0 million, subject to certain conditions in
• $60.0 million — under a letter of credit facility up to $60.0 million. The TNMP Revolver has a maturity date

Filing Documents

• pnm-20240401.htm (8-K) — 48KB
• pnm04012024ex41.htm (EX-4.1) — 116KB
• pnm04012024ex101.htm (EX-10.1) — 1201KB
• pnm04012024ex102.htm (EX-10.2) — 1148KB
• pnm04012024ex103.htm (EX-10.3) — 1116KB
• 0001108426-24-000017.txt ( ) — 4369KB
• pnm-20240401.xsd (EX-101.SCH) — 3KB
• pnm-20240401_def.xml (EX-101.DEF) — 15KB
• pnm-20240401_lab.xml (EX-101.LAB) — 27KB
• pnm-20240401_pre.xml (EX-101.PRE) — 16KB
• pnm-20240401_htm.xml (XML) — 5KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. Amendment to and Restatement of PNMR Credit Agreement On April 1, 2024, PNM Resources, Inc. ("PNMR") entered into a Twelfth Amendment to and Restatement of Credit Agreement (the "PNMR Revolver") amending and restating its $300.0 million revolving credit agreement, among PNMR, the lenders party thereto (the "PNMR Revolver Lenders") and Wells Fargo Bank, National Association ("Wells Fargo"), as administrative agent. The PNMR Revolver is effective as of April 1, 2024. The PNMR Revolver now has a maturity date of March 30, 2029, unless the maturity date is extended at the request of PNMR and with the agreement of the PNMR Revolver Lenders, subject to certain terms and conditions, but only two such extensions for one year each may be requested. The PNMR Revolver provides PNMR with a revolving credit facility for borrowing up to $300.0 million and includes customary covenants, including a covenant that requires the maintenance of a consolidated debt-to-consolidated capitalization ratio of less than or equal to .70 to 1.0. The PNMR Revolver also includes customary events of default, and has a cross default provision and a change of control provision. If an event of default occurs, the administrative agent may, or upon the request and direction of lenders holding a specified percentage of the commitments or loans shall, terminate the obligations of the lenders to make loans under the PNMR Revolver and/or declare the obligations outstanding under the PNMR Revolver to be due and payable. Such termination and acceleration will occur automatically in the event of an insolvency or bankruptcy default. The PNMR Revolver also contains an accordion feature which allows PNMR to increase the size of the credit facility from $300.0 million to up to $400.0 million, subject to certain conditions including finding one or more existing or new lenders to cover the increased amount. As a part of and not in addition to the maximum

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits: Exhibit Number Description 4.1 Twenty-First Supplemental Indenture, dated as of April 1, 2024, between Texas-New Mexico Power Company and U.S. Bank Trust Company, National Association, as Trustee. 10.1 Twelfth Amendment to and Restatement of Credit Agreement, dated as of April 1, 2024, among PNM Resources, Inc., the lenders party thereto and Wells Fargo Bank, National Association as Administrative Agent. 10.2 Seventh Amendment to and Restatement of Credit Agreement, dated as of April 1, 2024, among Public Service Company of New Mexico, the lenders party thereto and Wells Fargo Bank, National Association as Administrative Agent. 10.3 Credit Agreement, dated as of April 1, 2024, among Texas-New Mexico Power Company, the lenders party thereto and Wells Fargo Bank, National Association, as Administrative Agent. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned thereunto duly authorized. PNM RESOURCES, INC. PUBLIC SERVICE COMPANY OF NEW MEXICO TEXAS-NEW MEXICO POWER COMPANY (Registrants) Date: April 1, 2024 /s/ Gerald R. Bischoff Gerald R. Bischoff Vice President and Corporate Controller (Officer duly authorized to sign this report)

View Full Filing

View this 8-K filing on SEC EDGAR