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TXNM Energy unit PNM signs USD 195 million term loan due January 2028 - TXNM News | Rallies

TXNM Energy unit PNM signs USD 195 million term loan due January 2028

TXNM•2026-07-21

PNM signs new term loan to refinance existing balance

TXNM Energy unit PNM signed a USD 195 million term loan with a lender group led by Canadian Imperial Bank of Commerce, New York Branch.

The loan closes July 21, 2026 and matures Jan. 21, 2028.
Proceeds are earmarked to refinance PNM’s 2025 term loan balance due July 21, 2026.
The facility includes a covenant requiring the consolidated debt-to-capitalization ratio to remain at or below 0.65:1.00 at each fiscal quarter-end.

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