PNM Resources Inc. Files Material Definitive Agreement

TL;DR

PNM Resources just signed a big deal, details TBD.

AI Summary

On March 28, 2024, PNM Resources Inc. entered into a material definitive agreement related to a financial obligation. The filing does not disclose specific details of the agreement or any associated dollar amounts at this time.

Why It Matters

This filing indicates a significant new agreement or financial commitment by PNM Resources Inc., which could impact its financial standing and future operations.

Risk Assessment

Risk Level: medium — The filing indicates a material definitive agreement and financial obligation, but lacks specific details, creating uncertainty.

Key Players & Entities

• PNM Resources Inc. (company) — Filer
• Texas New Mexico Power Co (company) — Subsidiary
• Manzano Corp (company) — Former company name
• Community Public Service Co (company) — Former company name

FAQ

Key Financial Figures

• $285.0 million — investors party thereto for the sale of $285.0 million aggregate principal amount of TNMP firs
• $32.0 million — agreed to issue (i) on March 28, 2024, $32.0 million aggregate principal amount of its 5.26%
• $85.0 million — 9, Series 2024A (the "2024A Bonds") and $85.0 million aggregate principal amount of its 5.55%
• $40.0 million — s") and (ii) on or before July 1, 2024, $40.0 million aggregate principal amount of its 5.65%
• $128.0 million — 9, Series 2024D (the "2024D Bonds") and $128.0 million aggregate principal amount of its 5.79%

Filing Documents

• pnm-20240328.htm (8-K) — 37KB
• pnm03282024ex41.htm (EX-4.1) — 256KB
• pnm03282024ex101.htm (EX-10.1) — 704KB
• 0001108426-24-000015.txt ( ) — 1310KB
• pnm-20240328.xsd (EX-101.SCH) — 3KB
• pnm-20240328_def.xml (EX-101.DEF) — 14KB
• pnm-20240328_lab.xml (EX-101.LAB) — 26KB
• pnm-20240328_pre.xml (EX-101.PRE) — 15KB
• pnm-20240328_htm.xml (XML) — 4KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. Texas-New Mexico Power Company ("TNMP") 2024 Bond Purchase Agreement On March 28, 2024, TNMP entered into a Bond Purchase Agreement (the "TNMP Bond Purchase Agreement") with the institutional investors party thereto for the sale of $285.0 million aggregate principal amount of TNMP first mortgage bonds offered in a private placement transaction. Under the TNMP Bond Purchase Agreement, TNMP has agreed to issue (i) on March 28, 2024, $32.0 million aggregate principal amount of its 5.26% First Mortgage Bonds, due March 28, 2029, Series 2024A (the "2024A Bonds") and $85.0 million aggregate principal amount of its 5.55% First Mortgage Bonds, due March 28, 2036, Series 2024B (the "2024B Bonds") and (ii) on or before July 1, 2024, $40.0 million aggregate principal amount of its 5.65% First Mortgage Bonds, due July 1, 2039, Series 2024D (the "2024D Bonds") and $128.0 million aggregate principal amount of its 5.79% First Mortgage Bonds, due July 1, 2054, Series 2024E (the "2024E Bonds" and, together with the 2024A Bonds, the 2024B Bonds and the 2024D Bonds, the "TNMP 2024 Bonds"). The 2024A Bonds and the 2024B Bonds were issued on March 28, 2024. The issuance of the 2024D Bonds and the 2024E Bonds is subject to the satisfaction of customary conditions, including continuing compliance with the representations, warranties and covenants of the TNMP 2024 Bond Purchase Agreement. TNMP will use the proceeds from the TNMP 2024 Bonds for the repayment of existing debt and other general corporate purposes, including projected capital expenditures. The TNMP 2024 Bonds are secured by a first mortgage on substantially all of TNMP's property, subject to excepted encumbrances, reservations, contracts, and other exceptions. The TNMP 2024 Bonds are issued pursuant to TNMP's First Mortgage Indenture dated as of March 23, 2009 (the "First Mortgage Indenture"), between TNMP and U.S. Bank Trust Company, National Association (as ultimate

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits: Exhibit Number Description 4.1 Twentieth Supplemental Indenture, dated as of March 28, 2024, between Texas-New Mexico Power Company and U.S. Bank Trust Company, National Association, as Trustee. 10.1 Bond Purchase Agreement, dated March 28, 2024, between Texas-New Mexico Power Company and the purchasers named therein. 104 Cover page in Inline XBRL format 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. TEXAS-NEW MEXICO POWER COMPANY (Registrants) Date: March 28, 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