secwatch.observer — SEC 8-K summary
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Issuer:     MGE ENERGY INC (MGEE)
CIK:        0001161728
Form:       8-K
Filed at:   2024-11-05T23:59:59+00:00
Accession:  0000950170-24-121161
Event type: debt
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MGE subsidiary issues $50M in senior notes (5.30% and 5.59%) due 2039 and 2054
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- Madison Gas & Electric commits to $25M Series A at 5.30% due Dec 1, 2039, and $25M Series B at 5.59% due Dec 1, 2054.
- Closing expected Dec 4, 2024; net proceeds to fund capital expenditures and corporate obligations.
- Notes are unsecured; redeemable at par plus make-whole premium except near maturity.
- Covenants include max 65% consolidated debt-to-capital and Priority Debt cap of 20% of consolidated assets.
- Change-in-control put triggered if MGE loses investment-grade rating from two of S&P/Moody's after 30% voting stock acquisition.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1161728/000095017024121161/0000950170-24-121161-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/61339/000095017024121161/mgee-20241031.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-121161

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer