By Angela McDaniels
Tacoma, Wash., Feb. 10 – Texas-New Mexico Power Co., a subsidiary of PNM Resources, Inc., issued $60 million of 3.53% series 2016A first mortgage bonds due 2026 on Wednesday, according to an 8-K filing with the Securities and Exchange Commission.
The bonds were sold to institutional accredited investors under a Dec. 17 bond purchase agreement.
The bonds are secured by a first mortgage lien on substantially all of Texas-New Mexico Power’s property.
The bonds have a make-whole call option at Treasuries plus 50 basis points.
PNM Resources is an energy holding company based in Albuquerque. The subsidiary is based in Lewisville, Texas.
| Issuer: | Texas-New Mexico Power Co.
|
| Issue: | Series 2016A first mortgage bonds
|
| Amount: | $60 million
|
| Maturity: | Feb. 10, 2026
|
| Coupon: | 3.53%
|
| Price: | Par
|
| Yield: | 3.53%
|
| Call option: | Make-whole call at Treasuries plus 50 bps
|
| Pricing date: | Dec. 17
|
| Settlement date: | Feb. 10
|
| Distribution: | Private placement
|
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