TXNM subsidiary PNM refinances $195M term loan, extends maturity to Jan 2028

Filed July 21, 2026 · Period ending July 21, 2026 · ~1 min read

Key Changes

• medium

  PNM entered into a $195M term loan maturing January 2028 to refinance its expiring 2025 term loan that matured July 21, 2026.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
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  The new term loan requires PNM to maintain a consolidated debt-to-capitalization ratio at or below 0.65 to 1.00 at each quarter end.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
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  The transaction creates a direct financial obligation for PNM, TXNM's wholly-owned subsidiary.

  Item 2.03 — Creation of a Direct Financial Obligation verify on EDGAR →