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Public Service Co. of New Mexico intends to sell senior notes
By Aleesia Forni
Virginia Beach, Aug. 6 – Public Service Co. of New Mexico plans to price an offering of senior notes, according to a 424B5 filed with the Securities and Exchange Commission.
J.P. Morgan Securities LLC, MUFG, KeyBanc Capital Markets and RBC Capital Markets LLC are the bookrunners.
Proceeds will be used to repay a $175 million term loan with the Bank of Tokyo-Mitsubishi UFJ, Ltd., to repay outstanding borrowings under a $400 million revolving credit facility, to repay outstanding borrowings under a $50 million unsecured revolver, to repay outstanding borrowings under an intercompany loan agreement with parent company PNM Resources, Inc. and for other utility financing purposes.
Public Service Co. of New Mexico is an Albuquerque-based electric, water and gas utility services company.
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