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;