PNM Resources Announces Pricing of $500 Million of 5.75% Junior Subordinated Convertible Notes due 2054

ALBUQUERQUE, N.M., June 4, 2024 /PRNewswire/ -- PNM Resources (NYSE: PNM) today announced the pricing of $500,000,000 in aggregate principal amount of its 5.75% junior subordinated convertible notes due 2054 (the "convertible notes") in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). In addition, PNM Resources granted the initial purchasers of the convertible notes an option to purchase, within a 13-day period beginning on, and including, the date the convertible notes are first issued, up to an additional $50,000,000 in aggregate principal amount of the convertible notes, solely for the purpose of covering over-allotments, if any. The offering is expected to close on June 10, 2024, subject to customary closing conditions.

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