UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported) November 25, 2020

(November 25, 2020)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Securities registered pursuant to Section 12(b) of the Act:

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

On November 25, 2020, PNMR Development and Management Company (“PNMR Development”), a wholly-owned subsidiary of PNM Resources, Inc. (“PNMR”), entered into the Second Amendment to Term Loan Credit Agreement (“Term Loan Amendment”) amending its $90 million term loan agreement (“Term Loan”) between PNMR Development and KeyBank National Association (“KeyBank”), as administrative agent and sole lender. PNMR continues to guaranty the Term Loan pursuant to the Guaranty, dated November 26, 2018, with KeyBank. The Term Loan Amendment is effective November 25, 2020 and (i) reduces the aggregate principal amount of the Term Loan from $90 million to $65 million and (ii) extends the maturity of the Term Loan by one year to November 25, 2021 with an option for PNMR Development to extend the maturity further to January 31, 2022.

KeyBank performs normal banking (including as a lender under other facilities) and investment banking and advisory services from time to time for PNMR and its affiliates, for which it receives customary fees and expenses.

The above description of the Term Loan Amendment is not complete and is qualified in its entirety by reference to the entire Term Loan Amendment, a copy of which is attached hereto as Exhibit 10.1 and incorporated herein by reference.

The information required by this item is included in Item 1.01 and incorporated herein by reference.

(d)    Exhibits.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.