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Stock impact report

PNM Resources Closes Offering of $500 Million 5.75% Junior Subordinated Convertible Notes due 2054 [Yahoo! Finance]

PNM Resources, Inc. (Holding Co.) (PNM) 
Last pnm resources, inc. (holding co.) earnings: 2/28 06:30 am Check Earnings Report
US:NYSE Investor Relations: pnmresources.com/investors.aspx
Company Research Source: Yahoo! Finance
of 5.75% junior subordinated convertible notes due 2054 (the "convertible notes"). Pursuant to the option granted by PNM Resources to the initial purchasers of the convertible notes to purchase, within a 13-day period, beginning on, and including, the date on which the convertible notes were first issued, the initial purchasers may purchase up to an additional aggregate principal amount of the convertible notes, solely for the purpose of covering over-allotments, if any. The convertible notes were offered and sold in a private offering only to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). The convertible notes are unsecured obligations of PNM Resources and rank junior and subordinate in right of payment to the prior payment in full of PNM Resources' existing and future senior indebtedness. Interest on the convertible notes will be paid semi-annually, at a rate of 5.75% per annum, subject to PNM Resources' ri Show less Read more
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