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Public Service Co. of New Mexico secures $40M credit facility

Public Service Co. of New Mexico entered a new $40 million unsecured revolving credit facility with a syndicate of lenders, according to Dec. 12 Form 8-K filing.

The PNM Resources Inc. subsidiary can borrow, repay and reborrow up to $40 million from time to time. The facility matures on Dec. 12, 2022, and replaces the company's existing credit facility dated Jan. 8, 2014.

Borrowings will be used for general corporate purposes, including working capital and capital expenditures.

U.S. Bank NA acted as administrative agent and BOKF NA d/b/a Bank of Albuquerque acted as syndication agent.