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Madison Gas & Electric issues $30M of senior notes

Madison Gas and Electric Co. on Oct. 2 issued $30 million of its previously announced 3.11% senior notes due Oct. 1, 2027.

The MGE Energy Inc. subsidiary committed to issue the securities on July 25 pursuant to a note purchase agreement. Interest on the notes is payable semiannually on April 1 and Oct. 1 each year, beginning April 1, 2018, according to an Oct. 5 Form 8-K filing.

The notes are unsecured, with net proceeds from the sale planned to cover capital expenditures and other corporate obligations.