TXNM Energy Inc. Amends Credit Agreements with Wells Fargo to Facilitate Merger, Waives Change of Control Defaults

Reuters
05/28
<a href="https://laohu8.com/S/TXNM">TXNM Energy</a> Inc. Amends Credit Agreements with Wells Fargo to Facilitate Merger, Waives Change of Control Defaults

On May 23, 2025, TXNM Energy Inc. announced significant amendments to its existing financing agreements. The company entered into the First Amendment to its $500 million Term Loan Agreement, as well as the Fourteenth Amendment to its $300 million revolving credit agreement, both with Wells Fargo Bank, National Association serving as the administrative agent. These amendments specifically alter the definition of "Change of Control" to ensure that TXNM's recent entry into a Merger Agreement does not constitute a Change of Control, thereby preventing any default events under these loan agreements. Additionally, on May 18, 2025, TXNM secured a waiver for its $30.3 million standby letter of credit facility with Wells Fargo, removing any default risk associated with the merger. These strategic amendments and waivers are aimed at providing TXNM with financial stability and flexibility as it navigates its merger plans.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. TXNM Energy Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001108426-25-000056), on May 27, 2025, and is solely responsible for the information contained therein.

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