STB recently represented Lehman Brothers and nine other investment banks as remarketing agents for a remarketing of $247.75 million of 9.25% Senior Notes, Series A due 2015 of PNM Resources, Inc. (“PNMR”) in connection with the settlement of previously issued PNMR equity units. STB also represented Banc of America Securities and Lehman as representatives of the underwriters in a simultaneous offering of $102.75 million aggregate principal amount of PNMR 9.25% Senior Notes, Series A due 2015.
STB also recently represented Lehman Brothers and Merrill Lynch as representatives of the underwriters in a separate offering of $350 million aggregate principal amount of 7.95% Senior Unsecured Notes due 2018 issued by PNMR’s subsidiary, Public Service Company of New Mexico.
PNMR is an energy holding company based in Albuquerque, New Mexico. Through its utility and energy subsidiaries, PNMR primarily engages in the generation, transmission, and distribution of electricity, and focuses on the sale and marketing of electricity in the western United States and New Mexico.
STB’s team for these transactions included Andy Keller, Mark Brod, Amie Siebert, Caroline Teisseire, Marcy Geller, Jonathan Cantor, Jonathan Talansky, Amy Beller, Maco Stewart, Mike Isby, Mark Lab and Joel Post.