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TNP ENTERPRISES, INC. FILES REGISTRATION STATEMENT FOR PUBLIC OFFERING OF COMMON STOCK

TNP ENTERPRISES, INC. FILES REGISTRATION STATEMENT FOR PUBLIC OFFERING
 OF COMMON STOCK
 FORT WORTH, Texas, Oct. 29 /PRNewswire/ -- TNP Enterprises, Inc. (NYSE: TNP), announced today the filing of a registration statement with the Securities and Exchange Commission for the public offering of two million shares of common stock. The offering will be underwritten by a syndicate led by Dillon, Read & Co. Inc. and Lehman Brothers.
 The company intends to use the net proceeds from the sale of the shares as an equity contribution to its principal subsidiary Texas- New Mexico Power Company (the "utility"). The equity contribution will be used by the utility principally to prepay secured notes to banks related to the financing facility for Unit 1 of TNP One, a two-unit, 300-megawatt, lignite-fueled electric generating plant in Robertson County, Texas. A portion (not to exceed $10 million) of the net proceeds may be used for working capital and general corporate purposes, for reimbursement of the utility's treasury for construction expenditures, and for financing construction and improvement of utility plans.
 TNP Enterprises, Inc., is the Fort Worth-based holding company of Texas-New Mexico Power Company, which provides electric service to more than 205,000 customers in 90 towns and cities in Texas and New Mexico.
 -0- 10/29/92
 /CONTACT: D. R. Barnard of TNP Enterprises, 817-731-0099, ext. 319/
 (TNP) CO: TNP Enterprises, Inc. ST: Texas IN: UTI SU: OFR


GK -- NY095 -- 6788 10/29/92 16:44 EST
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Publication:PR Newswire
Date:Oct 29, 1992
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