By Devika Patel
Knoxville, Tenn., Aug. 16 – PNM Resources, Inc. indirect wholly owned subsidiary Texas-New Mexico Power Co. issued $65 million 2.44% first mortgage bonds due 2035 in a private placement on Monday, according to an 8-K filing with the Securities and Exchange Commission.
The bonds have a make-whole call. In the case of a partial prepayment, Texas-New Mexico Power must prepay not less than 10% of the total principal amount of bonds then outstanding.
PNM Resources is an energy holding company based in Albuquerque. The subsidiary is based in Lewisville, Tex.
| Issuer: | Texas-New Mexico Power Co.
|
| Issue: | First mortgage bonds
|
| Amount: | $65 million
|
| Maturity: | Aug. 15, 2035
|
| Coupon: | 2.44%
|
| Call option: | Make-whole call
|
| Settlement date: | Aug. 16
|
| Distribution: | Private placement
|
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