Hunton Andrews Kurth Advises Underwriters on $343.200 Million Senior Secured Energy Transition Bonds

Hunton Andrews Kurth LLP acted as counsel to the underwriters on an SEC-registered offering of $343.2 million aggregate principal amount of Senior Secured Energy Transition Bonds, Series A (the “Bonds”) by PNM Energy Transition Bond Company I, LLC, as “Issuing Entity”, a special purpose entity, wholly-owned by the Public Service Company of New Mexico (“PNM”), as sponsor, depositor and initial servicer. The Bonds were sold pursuant to a financing order issued by the New Mexico Public Regulation Commission. The Bond proceeds will be used to (i) pay upfront issuance costs and (ii) purchase energy transition property from PNM. In accordance with the financing order, PNM will use the proceeds to finance certain costs related to PNM’s retirement of two coal-fired generating units at the San Juan Generating Station.

The Hunton Andrews Kurth team included Michael F. Fitzpatrick, Jr., Adam R. O’Brian, Michelle G. Chan, Matthew A. Hayes and Jingyi “Alice” Yao. Jason W. Harbour assisted with certain bankruptcy advice, Shawn Patrick Regan and Kate Perkins assisted with certain constitutional law matters, Leslie A. Okinaka provided ERISA advice and George Howell, Anna Knecht Page and Zachary Roop provided tax advice.