# TXNM ENERGY INC (TXNM) — capital_raise [announced]
Source: SEC API (secapi.ai) · situation sit_208df8df449672010b80 · retrieved 2026-08-11T16:13:58.069Z

## Overview
Public Service Company of New Mexico is an electric utility company providing electric services in New Mexico; it is a wholly-owned subsidiary of TXNM Energy, Inc.

Public Service Company of New Mexico (PNM), a wholly-owned subsidiary of TXNM Energy, Inc., entered into a $195.0 million term loan agreement on July 21, 2026, with Canadian Imperial Bank of Commerce, New York Branch as administrative agent. The Term Loan matures on January 21, 2028. PNM will use the proceeds to refinance the balance outstanding under its prior 2025 term loan agreement that matured on July 21, 2026. The Term Loan includes customary covenants, including a requirement to maintain a consolidated debt-to-consolidated capitalization ratio of not more than 0.65 to 1.00 as of the last day of any fiscal quarter.

## Terms
- Counterparty: Canadian Imperial Bank of Commerce, New York Branch · Deal value: $195.0M · Consideration: cash

## Key dates
- Announced 2026-07-21

## Timeline
- 2026-07-21 · 8-K (0001108426-26-000044): 8-K - TXNM ENERGY INC — *Public Service Company of New Mexico is an electric utility company providing electric services in New Mexico; it is a wholly-owned subsidiary of TXNM Energy, Inc.* Public Service Company of New Mexico (PNM), a wholly-owned subsidiary of TXNM Energy, Inc., entered into a $195.0 million term loan agreement on July 21, 2026, with Canadian Imperial Bank of Commerce, New York Branch as administrative agent. The Term Loan matures on January 21, 2028. PNM will use the proceeds to refinance the balance outstanding under its prior 2025 term loan agreement that matured on July 21, 2026. The Term Loan includes customary covenants, including a requirement to maintain a consolidated debt-to-consolidated capitalization ratio of not more than 0.65 to 1.00 as of the last day of any fiscal quarter.
  https://www.sec.gov/Archives/edgar/data/1108426/0001108426-26-000044.txt

## Citations
- 0001108426-26-000044 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000110842626000044