TXNM ENERGY INC. Enters Material Agreement, Incurs Financial Obligation

TL;DR

TXNM ENERGY INC. just signed a big deal and took on debt.

AI Summary

On November 18, 2025, TXNM ENERGY INC. (formerly PNM RESOURCES INC.) entered into a material definitive agreement and incurred a direct financial obligation. The filing details the creation of this obligation, which is a key part of the company's financial activities for the reporting period.

Why It Matters

This filing indicates a significant financial commitment or agreement by TXNM ENERGY INC., which could impact its future operations and financial health.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements and incurring financial obligations can introduce financial risks and operational changes for the company.

Key Players & Entities

• TXNM ENERGY INC. (company) — Filer
• PNM RESOURCES INC. (company) — Former company name
• TEXAS NEW MEXICO POWER CO (company) — Related entity
• 20251118 (date) — Filing date

FAQ

Key Financial Figures

• $70,000,000 — Power Company ("TNMP"), agreed to issue $70,000,000 aggregate principal amount of its 4.69%

Filing Documents

• pnm-20251118.htm (8-K) — 41KB
• txnm11182025ex101.htm (EX-10.1) — 584KB
• 0001108426-25-000116.txt ( ) — 879KB
• pnm-20251118.xsd (EX-101.SCH) — 2KB
• pnm-20251118_def.xml (EX-101.DEF) — 14KB
• pnm-20251118_lab.xml (EX-101.LAB) — 26KB
• pnm-20251118_pre.xml (EX-101.PRE) — 15KB
• pnm-20251118_htm.xml (XML) — 4KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On November 18, 2025, TXNM Energy, Inc.'s indirect wholly-owned subsidiary, Texas-New Mexico Power Company ("TNMP"), agreed to issue $70,000,000 aggregate principal amount of its 4.69% First Mortgage Bonds, due December 18, 2031, Series 2025H (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 will be sold by TNMP to institutional accredited investors (as defined by Rule 501(a) of the Securities Act) pursuant to a Bond Purchase Agreement dated November 18, 2025 (the "Bond Purchase Agreement"). The Bonds will be issued on or before December 18, 2025, and the issuance of the Bonds is subject to the satisfaction of customary conditions, including continuing compliance with the representations, warranties and covenants of the Bond Purchase Agreement. A copy of the Bond Purchase Agreement is attached to this Current Report on Form 8-K filed as Exhibit 10.1. TNMP will apply the proceeds of the Bonds for the repayment of short-term debt and other general corporate purposes, including projected capital expenditures. The Bonds will be 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 will be further supplemented by the Twenty-Sixth Supplemental Indenture thereto, to be dated on or before December 18, 2025, between TNMP and the Trustee (the "Twenty-Sixth Supplemental Indenture" and, together with the First Mortgage Indenture, the "Indenture"). The Bonds will be secured by a first mortgage lien on substantially all of TNMP's property, subject to excepted encumbrances, reservations, contracts and other exceptions as will be permitted by the Inde

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits: Exhibit Number Description 10.1 Bond Purchase Agreement, dated November 18, 2025, between Texas-New Mexico Power Company and the purchasers named therein. 104 Cover page in Inline XBRL format Forward-Looking Statement 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. TXNM ENER

View Full Filing

View this 8-K filing on SEC EDGAR