---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-046611"
form_type: "8-K"
ticker: "MGEE"
cik: "0001161728"
company_name: "MGE ENERGY INC"
filed_at: "2023-09-06T23:59:59+00:00"
generated_at: "2026-06-10T23:14:20.910951+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.45
calibrated_materiality_score: 0.45
confidence: "high"
source: SEC EDGAR
---

# MGE subsidiary issues $70M senior notes at 5.61%-5.91% to refinance maturing debt and fund capex

## Summary
- $40M Series A 5.61% notes due 2034 and $30M Series B 5.91% notes due 2053 issued.
- Proceeds to repay $30M of 3.09% senior notes maturing Sep 15, 2023 and fund capex.
- Covenants include max 65% debt-to-capitalization and 20% limit on priority debt.
- Series A closes Sep 13, 2023; Series B closes Dec 1, 2023; interest paid semi-annually.
- Notes are unsecured, redeemable at make-whole premium, with change-in-control prepayment clause.

## SEC filing metadata
- accession: 0000950170-23-046611
- form_type: 8-K
- ticker: MGEE
- cik: 0001161728
- company_name: MGE ENERGY INC
- filed_at: 2023-09-06T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.45
- calibrated_materiality_score: 0.45
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1161728/000095017023046611/0000950170-23-046611-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/61339/000095017023046611/mgee-20230831.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-046611
- JSON: https://secwatch.observer/filing/0000950170-23-046611.json
- Plain text: https://secwatch.observer/filing/0000950170-23-046611.txt

## Key facts
- Debt Financings
  MGE ENERGY INC incurred senior notes of $40 million in principal amount of its 5.61% senior notes, Series A, due September 15, 2034 and $30 million in principal with the note purchasers named therein at 5.61% per annum maturing September 15, 2034.
  - Instrument: senior notes
  - Principal: $40 million in principal amount of its 5.61% senior notes, Series A, due September 15, 2034 and $30 million in principal
  - Counterparty: the note purchasers named therein
  - Rate: 5.61% per annum
  - Maturity: September 15, 2034
  - Event: incurrence
  source text: MGE entered into the Note Purchase Agreement providing for the issuance of $40 million in principal amount of its 5.61% senior notes, Series A, due September 15, 2034, at a closing scheduled for September 13, 2023, and $30 million in principal amount of its 5.91% senior notes, Series B, due December 1, 2053, at a closing scheduled for December 1, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1161728/000095017023046611/0000950170-23-046611-index.htm
- Debt Financings
  MGE ENERGY INC incurred senior notes of $40 million in principal amount of its 5.61% senior notes, Series A, due September 15, 2034 and $30 million in principal with the note purchasers named therein at 5.91% per annum maturing December 1, 2053.
  - Instrument: senior notes
  - Principal: $40 million in principal amount of its 5.61% senior notes, Series A, due September 15, 2034 and $30 million in principal
  - Counterparty: the note purchasers named therein
  - Rate: 5.91% per annum
  - Maturity: December 1, 2053
  - Event: incurrence
  source text: MGE entered into the Note Purchase Agreement providing for the issuance of $40 million in principal amount of its 5.61% senior notes, Series A, due September 15, 2034, at a closing scheduled for September 13, 2023, and $30 million in principal amount of its 5.91% senior notes, Series B, due December 1, 2053, at a closing scheduled for December 1, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1161728/000095017023046611/0000950170-23-046611-index.htm
- Material Agreements
  MGE ENERGY INC entered into Note Purchase Agreement with note purchasers named therein valued at $40 million in principal amount of its 5.61% senior notes, Series A, due September 15, 2034 and $30 (effective 2023-08-31).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: note purchasers named therein
  - Value: $40 million in principal amount of its 5.61% senior notes, Series A, due September 15, 2034 and $30
  - Effective: 2023-08-31
  source text: Madison Gas and Electric Company (MGE), a wholly-owned subsidiary of MGE Energy, Inc., entered into a Note Purchase Agreement dated August 31, 2023 (the Note Purchase Agreement), with the note purchasers named therein, in which it committed to issue $40 million in principal amount of its 5.61% senior notes, Series A, due September 15, 2034 and $30 million in principal amount of its 5.91% senior notes, Series B, due December 1, 2053
  evidence_url: https://www.sec.gov/Archives/edgar/data/1161728/000095017023046611/0000950170-23-046611-index.htm

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