PNM RESOURCES, INC. 4,000,000 Units 6.625% Hybrid Income Term Security UnitsPNM Resources • August 19th, 2004 • PNM Resources Inc • Electric services • New York
PNM Resources, Inc., a New Mexico corporation (the “Company”), is party to a Stock Purchase Agreement dated as of July 24, 2004 (as amended, the “Acquisition Agreement”) pursuant to which, among other things, the Company will acquire (the “Acquisition”) 100% of the outstanding common stock of TNP Enterprises, Inc., a Texas corporation (“TNPE”), and, in connection therewith, effect the repayment or redemption (as the case may be; collectively, the “Refinancing”) of certain TNPE term loans, senior subordinated notes and senior redeemable preferred stock, in each case as contemplated by Section 6.07 of the Acquisition Agreement. As part of its financing plan for the payment of the cash portion of the purchase price specified in the Acquisition Agreement and to obtain funds as needed to effect the Refinancing, the Company has agreed to sell to you, and you have agreed to purchase, on the terms and conditions hereinafter set forth, $100,000,000 of securities to be issued by the Company. Acc
