By Wendy Van Sickle
Columbus, Ohio, Sept. 23 – Public Service Co. of New Mexico entered into a note purchase agreement to issue $150 million of senior notes in a two-part private placement, according to an 8-K filed with the Securities and Exchange Commission.
The notes include $50 million of 2.29% series A notes due Dec. 30, 2031 and $100 million of 2.97% series B notes due Dec. 30, 2041.
Proceeds will be used to fund capital expenditures, including for the purchase of the Western Spirit transmission line, for refinancing existing short-term debt and for general corporate purposes.
Public Service Co. of New Mexico is an Albuquerque-based utility company.
| Issuer: | Public Service Co. of New Mexico
|
| Issue: | Senior notes
|
| Amount: | $150 million
|
| Pricing date: | Sept. 23
|
| Settlement date: | On or before Dec. 30
|
| Distribution: | Private placement
|
|
|
| Series A notes
|
| Amount: | $50 million
|
| Maturity: | Dec. 30, 2031
|
| Coupon: | 2.29%
|
| Call: | Make-whole call
|
|
|
| Series B notes
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| Amount: | $100 million
|
| Maturity: | Dec. 30, 2041
|
| Coupon: | 2.97%
|
| Call: | Make-whole call
|
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