trending Market Intelligence /marketintelligence/en/news-insights/trending/QuOMOyQ-9cjnRoPviy8SAw2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

PNM Resources prices upsized offering of common shares

客户案例:跨国公用事业公司有效增强对新客户信用风险的认知

S&P podcast - Coronavirus pandemic, oil price crash shake up energy sector

Case Study: A Utility Company Efficiently Sharpens Its Focus on the Credit Risk of New Customers

Energy Evolution Podcast

Energy Evolution Why solar energy could get even cheaper


PNM Resources prices upsized offering of common shares

PNM Resources Inc. priced an upsized public offering of 5,375,000 common shares for total proceeds of $260.7 million.

The company plans to use net proceeds from the offering, which is expected to close by Jan. 10, for general corporate purposes.

In connection with the offering, PNM Resources entered a forward sale agreement with affiliates of Citigroup Global Markets Inc. and BofA Securities Inc. as forward purchasers for the sale of the shares at an initial forward sale price of $47.21 apiece.

Additionally, the company granted the underwriters a 30-day option to purchase up to an additional 806,250 common shares, according to a Jan. 7 news release.

The company also expects to enter into an additional forward sale agreements for the additional shares.

Settlement of the forward sale agreements is expected to occur within 12 months after the completion of the offering.

Citigroup, BofA Securities, Wells Fargo Securities LLC and Evercore Group LLC are acting as joint book-running managers of the offering, with Citigroup and BofA Securities serving as representatives of underwriters.