Indicative of its current push to acquire new assets and expand its reach in the Southwest, PNM Resources, the holding company for Public Service Company of New Mexico, on Thursday increased it financing capacity to $1 billion with a so-called “shelf registration” statement to the federal Securities and Exchange Commission. The latest registration was for an added $500 million.

PNM’s total capacity at the SEC to issue registered securities now sits at $1 billion, the Albuquerque-based holding company said. It allows the company to obtain new capital from time to time through issuing additional stock, corporate debt or securities comprised of a combination of debt-equity. The future dates and terms are unspecified, and the shelf securities can be prepared up to two years in advance of an offering.

PNM CFO John Loyack said the registration gives the company “the ability to access capital when needed,” noting the proceeds of the future issuances will be used for the pending acquisition of Fort Worth, TX-based TNP Enterprises, construction of the company’s newly acquired Luna Energy Facility near Deming, NM, and other corporate purposes.

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