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PNM Resources extends maturity of $150M term loan

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PNM Resources extends maturity of $150M term loan

PNM Resources Inc. extended the maturity date of its $150 million term loan agreement, with MUFG Bank Ltd. as administrative agent, to June 11, 2021, from Dec. 13, 2019.

The company's amendment to its term loan also provides for customary London interbank offered rate replacement language and changes the definition for applicable percentage for eurodollar loans to 0.95% from 0.75%.