trending Market Intelligence /marketintelligence/en/news-insights/trending/pjxkx13_kclgr_6ceqvymw2 content esgSubNav
In This List

PNM Resources sells $300M of senior notes

Podcast

Next in Tech | Episode 49: Carbon reduction in cloud

Blog

Using ESG Analysis to Support a Sustainable Future

Research

US utility commissioners: Who they are and how they impact regulation

Blog

Q&A: Datacenters: Energy Hogs or Sustainability Helpers?


PNM Resources sells $300M of senior notes

PNM Resources Inc. sold $300 million of 3.250% senior notes due March 9, 2021, to repay its three-year term loan due June 8 and its borrowings under its revolver due Oct. 31, 2022.

Any remaining proceeds will be used for general corporate purposes, according to a March 7 free writing prospectus.

Interest on the notes is payable semiannually on March 9 and Sept. 9, beginning Sept. 9. The notes have a spread to benchmark Treasury of 87.5 basis points and were expected to be rated Baa3 by Moody's and BBB by S&P Global Ratings.

Wells Fargo Securities LLC and MUFG Securities Americas Inc. acted as joint book-running managers. KeyBanc Capital Markets Inc., RBC Capital Markets LLC and U.S. Bancorp Investments Inc. served as co-managers.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.