By Andrea Heisinger
New York, Oct. 6 - Public Service Co. of New Mexico sold $160 million of 5.35% 10-year senior notes on Thursday to yield Treasuries plus 340 basis points, according to an FWP filing with the Securities and Exchange Commission.
The notes (Baa3/BBB-/) were priced at 99.857 to yield 5.369%.
There is a make-whole call at Treasuries plus 50 bps until July 1, 2021, and the notes are callable after that date at par.
J.P. Morgan Securities LLC and Mitsubishi UFJ Securities (USA) Inc. were the bookrunners.
Joint lead managers were Citigroup Global Markets Inc. and Wells Fargo Securities LLC.
Co-managers were BNY Mellon Capital Markets LLC, KeyBanc Capital Markets, RBC Capital Markets LLC, SunTrust Robinson Humphrey Inc., UBS Securities LLC and U.S. Bancorp Investments Inc.
Proceeds are being used to repay outstanding borrowings under an unsecured revolving credit facility.
The electric company is based in Albuquerque.
| Issuer: | Public Service Co. of New Mexico
|
| Issue: | Senior notes
|
| Amount: | $160 million
|
| Maturity: | Oct. 1, 2021
|
| Bookrunners: | J.P. Morgan Securities LLC, Mitsubishi UFJ Securities (USA) Inc.
|
| Joint lead managers: | Citigroup Global Markets Inc., Wells Fargo Securities LLC
|
| Co-managers: | BNY Mellon Capital Markets LLC, KeyBanc Capital Markets, RBC Capital Markets LLC, SunTrust Robinson Humphrey Inc., UBS Securities LLC, U.S. Bancorp Investments Inc.
|
| Coupon: | 5.35%
|
| Price: | 99.857
|
| Yield: | 5.369%
|
| Spread: | Treasuries plus 340 bps
|
| Call: | Make-whole at Treasuries plus 50 bps until July 1, 2021, after at par
|
| Trade date: | Oct. 6
|
| Settlement date: | Oct. 12
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: BBB-
|
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