PNM Resources Inc. Files 8-K for Material Definitive Agreement

TL;DR

PNM Resources just filed an 8-K for a big new deal - check the financials!

AI Summary

On July 1, 2024, PNM Resources Inc. entered into a Material Definitive Agreement related to a financial obligation. The filing also includes financial statements and exhibits, indicating a significant financial event for the company.

Why It Matters

This 8-K filing signals a significant financial commitment or agreement by PNM Resources Inc., which could impact its financial obligations and future operations.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new financial obligations or strategic shifts that carry inherent risks.

Key Players & Entities

• PNM Resources Inc. (company) — Filer
• Texas New Mexico Power Co (company) — Subsidiary
• 0001108426-24-000064 (document_id) — Accession Number

FAQ

Key Financial Figures

• $40,000,000 — w Mexico Power Company ("TNMP"), issued $40,000,000 aggregate principal amount of its 5.65%
• $128,000,000 — 9, Series 2024D (the "2024D Bonds") and $128,000,000 aggregate principal amount of its 5.79%

Filing Documents

• pnm-20240701.htm (8-K) — 40KB
• pnm07012024ex41.htm (EX-4.1) — 256KB
• 0001108426-24-000064.txt ( ) — 503KB
• pnm-20240701.xsd (EX-101.SCH) — 3KB
• pnm-20240701_def.xml (EX-101.DEF) — 14KB
• pnm-20240701_lab.xml (EX-101.LAB) — 26KB
• pnm-20240701_pre.xml (EX-101.PRE) — 15KB
• pnm-20240701_htm.xml (XML) — 4KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On July 1, 2024, PNM Resources, Inc.'s indirect wholly-owned subsidiary, Texas-New Mexico Power Company ("TNMP"), issued $40,000,000 aggregate principal amount of its 5.65% First Mortgage Bonds, due 2039, Series 2024D (the "2024D Bonds") and $128,000,000 aggregate principal amount of its 5.79% First Mortgage Bonds, due 2054, Series 2024E (the "2024E Bonds" and, together with the 2024D Bonds, the "Bonds") in a private placement in reliance on an exemption from registration under the Securities Act of 1933, as amended (the "Securities Act"). The Bonds were sold by TNMP to institutional accredited investors (as defined by Rule 501(a) of the Securities Act) pursuant to a Bond Purchase Agreement dated March 28, 2024 (the "Bond Purchase Agreement"). The Bond Purchase Agreement was filed as Exhibit 10.1 to TNMP's Current Report on Form 8-K filed with the Securities and Exchange Commission on March 28, 2024. TNMP will use the proceeds from the Bonds for the repayment of existing debt and other general corporate purposes, including projected capital expenditures. The Bonds were 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 successor to The Bank of New York Mellon Trust Company, N.A.), as trustee, (the "Trustee"), as previously supplemented and amended and as further supplemented by the Twenty-Second Supplemental Indenture thereto, dated as of July 1, 2024, between TNMP and the Trustee (the "Twenty-Second Supplemental Indenture" and, together with the First Mortgage Indenture, the "Indenture"). The Bonds are secured by a first mortgage lien on substantially all of TNMP's property, subject to excepted encumbrances, reservations, contracts and other exceptions as are permitted by the Indenture, and rank equally in right of payment with all other securities theretofore or thereafter

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits: Exhibit Number Description 4.1 Twenty-Second Supplemental Indenture, dated as of July 1, 2024, between Texas-New Mexico Power Company and U.S. Bank Trust Company, National Association, as Trustee. 4.2 Form of 2024D Bond (included in Exhibit 4.1). 4.3 Form of 2024E Bond (included in Exhibit 4.1). 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: July 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