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Madison Gas and Electric to sell $50M of notes

Madison Gas and Electric Co. agreed to sell $50 million of its 2.94% senior notes due Nov. 15, 2029.

Interest on the notes is payable semiannually on May 15 and Nov. 15 of each year, starting May 15, 2020, according to a Form 8-K filed Sept. 3.

The MGE Energy Inc. subsidiary plans to use net proceeds to cover capital expenditures, maturing short-term debt and other corporate obligations.