---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-023547"
form_type: "8-K"
ticker: "MGEE"
cik: "0001161728"
company_name: "MGE ENERGY INC"
filed_at: "2026-01-27T23:59:59+00:00"
generated_at: "2026-05-16T07:26:25.537973+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# MGE Energy subsidiary issues $90M in senior notes in three tranches due 2036-2056

## Summary
- Issued $30M each of 5.05% Series A (2036), 5.25% Series B (2041), 5.79% Series C (2056).
- Net proceeds to fund capital expenditures and other corporate obligations.
- Notes are unsecured, redeemable at MGE's option with make-whole premium.
- Covenant: consolidated debt to total capitalization not to exceed 65%.
- Change-in-control trigger if MGE Energy loses investment-grade rating within 90 days of 30%+ voting stock acquisition.

## SEC filing metadata
- accession: 0001193125-26-023547
- form_type: 8-K
- ticker: MGEE
- cik: 0001161728
- company_name: MGE ENERGY INC
- filed_at: 2026-01-27T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1161728/000119312526023547/0001193125-26-023547-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/61339/000119312526023547/mgee-20260122.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-023547
- JSON: https://secwatch.observer/filing/0001193125-26-023547.json
- Plain text: https://secwatch.observer/filing/0001193125-26-023547.txt

## Key facts
- Debt Financings
  MGE ENERGY INC incurred senior notes of $30 million in principal amount of its 5.05% Senior Notes, Series A, due January 31, 2036; $30 million in principal amou with note purchasers named therein at 5.05% per annum for Series A, 5.25% per annum for Series B, and 5.79% per annum maturing January 31, 2036 for Series A, January 31, 2041 for Series B, and January 31, 2056 for Series C.
  - Instrument: senior notes
  - Principal: $30 million in principal amount of its 5.05% Senior Notes, Series A, due January 31, 2036; $30 million in principal amou
  - Counterparty: note purchasers named therein
  - Rate: 5.05% per annum for Series A, 5.25% per annum for Series B, and 5.79% per annum
  - Maturity: January 31, 2036 for Series A, January 31, 2041 for Series B, and January 31, 2056 for Series C
  - Event: incurrence
  source text: On January 22, 2026, MGE issued $90 million in aggregate principal amount of the Notes pursuant to the Note Purchase Agreement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1161728/000119312526023547/0001193125-26-023547-index.htm
- Material Agreements
  MGE ENERGY INC entered into Note Purchase Agreement with the note purchasers named therein valued at $30 million in principal amount of its 5.05% Senior Notes, Series A, due January 31, 2036 ... $30 mi (effective 2026-01-22).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: the note purchasers named therein
  - Value: $30 million in principal amount of its 5.05% Senior Notes, Series A, due January 31, 2036 ... $30 mi
  - Effective: 2026-01-22
  source text: On January 22, 2026, Madison Gas and Electric Company ("MGE"), a wholly-owned subsidiary of MGE Energy, Inc., entered into a Note Purchase Agreement dated January 22, 2026 (the "Note Purchase Agreement"), with the note purchasers named therein, pursuant to which MGE issued $30 million in principal amount of its 5.05% Senior Notes, Series A, due January 31, 2036 (the "Series A Notes"), $30 million in principal amount of its 5.25% Senior Notes, Series B, due January 31, 2041 (the "Series B Notes"), and $30 million in principal amount of its 5.79% Senior Notes, Series C, due January 31, 2056 (the "Series C Notes" and, together with the Series A Notes and the Series B Notes, the "Notes").
  evidence_url: https://www.sec.gov/Archives/edgar/data/1161728/000119312526023547/0001193125-26-023547-index.htm

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