Public Service Co. of New Mexico to repay bank debt via note proceeds

By Tali Rackner

Norfolk, Va., Aug. 6 – Public Service Co. of New Mexico plans to repay all of the outstanding borrowings under its $175 million 2014 term loan with the proceeds from a new senior unsecured note offering, according to a 424B5 filing with the Securities and Exchange Commission.

It will also repay, as soon as practicable, all of the outstanding borrowings under its $400 million unsecured revolving credit facility, its $50 million unsecured revolving credit facility and its intercompany loan agreement.

Any remaining proceeds will be used for other utility financing purposes.

Public Service is an Albuquerque-based electric, water and gas utility services company.

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