secwatch.observer — SEC 8-K summary
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Issuer:     MGE ENERGY INC (MGEE)
CIK:        0001161728
Form:       8-K
Filed at:   2022-11-09T23:59:59+00:00
Accession:  0000950170-22-023583
Event type: debt
Sentiment:  neutral
Materiality: 0.25
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1161728/000095017022023583/0000950170-22-023583-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/61339/000095017022023583/mgee-20221108.htm
  HTML page:      https://secwatch.observer/filing/0000950170-22-023583

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