PNM Resources’ $300 Million Senior Notes Offering

Simpson Thacher represented the underwriters, led by Wells Fargo Securities, LLC and MUFG Securities Americas Inc., in connection with PNM Resources, Inc.’s (“PNMR”) registered offering of $300 million aggregate principal amount of 3.25% Senior Notes due 2021.

The net proceeds from the offering were used to repay PNMR’s three-year unsecured term loan and borrowings under PNMR’s unsecured revolving credit facility.

PNMR is a holding company of energy and energy-related businesses that includes Public Service Company of New Mexico, an electric utility that provides electric generation, transmission and distribution services in New Mexico, and Texas-New Mexico Power Company, which provides regulated transmission and distribution services to various retail electric providers in Texas. The company, led by Patricia K Vincent-Collawn, Charles N Eldred and Patrick V Apodaca, in 2017 recorded $1.445 Billion Revenues.

The Simpson Thacher team included Andy Keller (Picture), Arjun Koshal and William Hong (Capital Markets); Amy Beller (Energy and Infrastructure); Michael Isby (Environmental); Nancy Mehlman and Sarah Katz (Tax); and Jennie Getsin (FINRA and Blue Sky).

Involved fees earner: Andrew Keller – Simpson Thacher & Bartlett; Arjun Koshal – Simpson Thacher & Bartlett; William Beom Hong – Simpson Thacher & Bartlett; Amy Beller – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Nancy Mehlman – Simpson Thacher & Bartlett; Sarah Katz – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Wells Fargo Securities; MUFG Securities Americas Inc. ;


Author: Ambrogio Visconti