Madison Gas and Electric places $30 million of 3.11% 10-year notes in quiet market

Spokane, Wash., Oct. 5 – Private placement debt markets showed limited activity on Thursday with only MGE Energy Inc. reported among issuers completing transactions.

MGE Energy wholly owned subsidiary Madison Gas and Electric Co. issued $30 million of 3.11% senior notes due 2027, according to an 8-K filing with the Securities and Exchange Commission.

The company entered into a note purchase agreement dated July 25.

Proceeds will be used to cover capital expenditures and other corporate obligations.

The agents were Merrill Lynch, Pierce, Fenner & Smith Inc. and Samuel A. Ramirez & Co., Inc.

Madison Gas and Electric is a subsidiary of MGE Energy, a public utility holding company based in Madison, Wis.

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