MGE Energy amends revolving credit facility, lifts MGE JPMorgan commitments to $210 million
MGEE•MGE Energy amended and restated its revolving credit facilities, extending maturities to Oct. 1, 2031. Madison Gas and Electric increased its JPMorgan-led commitments to $210 million from $90 million, while MGE Energy’s capacity remains capped at $50 million, with an option to seek another $25 million.
1. Credit facilities extended
Madison Gas and Electric increased its JPMorgan-led revolving credit commitments to $210 million from $90 million and renewed a separate U.S. Bank-led revolver with $40 million in commitments. Both facilities run through Oct. 1, 2031; MGE Energy’s revolver capacity remains capped at $50 million, with an option to seek up to $25 million more. The facilities require a consolidated debt-to-capitalization ratio of no more than 65%, and a change of control triggers an event of default.
