---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-22-023583"
form_type: "8-K"
ticker: "MGEE"
cik: "0001161728"
company_name: "MGE ENERGY INC"
filed_at: "2022-11-09T23:59:59+00:00"
generated_at: "2026-06-22T00:41:28.117247+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.25
calibrated_materiality_score: 0.25
confidence: "high"
source: SEC EDGAR
---

# MGE Energy and subsidiary amend credit facilities; extend maturities to 2027, switch from LIBOR to SOFR

## Summary
- MGEE entered $50M revolver; MGE entered $60M (JPM) and $40M (USB) revolvers, all maturing Nov 8, 2027.
- Each facility allows up to two one-year extensions and up to 50% commitment increase (MGEE +$25M, MGE +$30M/$20M).
- Interest rates: Alternate Base Rate plus 0-0.125% or Adjusted Term SOFR plus 0.625%-1.125%, based on credit ratings.
- Covenants include max consolidated debt-to-capitalization ratio of 65% and change-of-control default triggers.
- Agreements replace prior LIBOR-based 2019 facilities; other terms substantially unchanged.

## SEC filing metadata
- accession: 0000950170-22-023583
- form_type: 8-K
- ticker: MGEE
- cik: 0001161728
- company_name: MGE ENERGY INC
- filed_at: 2022-11-09T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.25
- calibrated_materiality_score: 0.25
- confidence: high
- sec_items: 1.01, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1161728/000095017022023583/0000950170-22-023583-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/61339/000095017022023583/mgee-20221108.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-22-023583
- JSON: https://secwatch.observer/filing/0000950170-22-023583.json
- Plain text: https://secwatch.observer/filing/0000950170-22-023583.txt

## Key facts
- Debt Financings
  MGE ENERGY INC amended revolving credit of $60 million with JPMorgan Chase Bank, N.A. maturing November 8, 2027.
  - Instrument: revolving credit
  - Principal: $60 million
  - Counterparty: JPMorgan Chase Bank, N.A.
  - Maturity: November 8, 2027
  - Event: amendment
  source text: agent. Under that credit agreement, MGE may borrow funds on a revolving credit basis, and may request letters of credit, all in a maximum amount outstanding not to exceed $60 million. The MGE JPM Credit Agreement has an initial term expiring on November 8, 2027. MGE may request up to two one-year extensions of that term, which, if granted by the lenders in
  evidence_url: https://www.sec.gov/Archives/edgar/data/1161728/000095017022023583/0000950170-22-023583-index.htm
- Debt Financings
  MGE ENERGY INC amended revolving credit of $50 million with JPMorgan Chase Bank, N.A. maturing November 8, 2027.
  - Instrument: revolving credit
  - Principal: $50 million
  - Counterparty: JPMorgan Chase Bank, N.A.
  - Maturity: November 8, 2027
  - Event: amendment
  source text: agent. Under the MGEE Credit Agreement, MGEE may borrow funds on a revolving credit basis, and may request letters of credit, all in a maximum amount outstanding not to exceed $50 million. The MGEE Credit Agreement has an initial term expiring on November 8, 2027. MGEE may request up to two one-year extensions of that term, which, if granted by the lenders in
  evidence_url: https://www.sec.gov/Archives/edgar/data/1161728/000095017022023583/0000950170-22-023583-index.htm
- Material Agreements
  MGE ENERGY INC amended Credit Agreements (effective 2022-11-08).
  - Action: amendment
  - Agreement: credit facility
  - Effective: 2022-11-08
  source text: On November 8, 2022, MGE Energy, Inc. (MGEE) and Madison Gas and Electric Company (MGE) amended and restated their existing credit agreements entered on February 7, 2019, principally to extend their maturity dates to November 8, 2027 and to change the interest rate determination from a LIBOR basis
  evidence_url: https://www.sec.gov/Archives/edgar/data/1161728/000095017022023583/0000950170-22-023583-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.