Madison Gas and Electric Partners with Local Banks on Financing Arrangement

Madison, Wis., Oct. 6, 2026—Madison Gas and Electric Company (MGE) today announced a financing partnership with six regional and locally owned banks operating throughout MGE's service territory. The $40 million unsecured revolving credit facility will be used for general corporate purposes.

“This financing arrangement strengthens MGE's financial flexibility while creating partnerships with banks that know our communities and serve many of our customers,” said Jared Bushek, MGE Executive Vice President, Chief Financial Officer and Treasurer. “Working with local financial institutions helps diversify our lender base and reinforces our commitment to investing in the communities we serve.”

The U.S. Bank National Association, one of the participating banks, also served as lead arranger and administrative agent. Other participating banks include:

• Associated Bank, syndication agent
• Capitol Bank
• Johnson Bank
• Lake Ridge Bank
• One Community Bank

“As your community energy company, we value the opportunity to work with financial institutions in the same communities that we serve,” said Jeff Keebler, MGE Chairman, President and CEO. “Access to competitive capital is important to advancing MGE's long-term plans and maintaining financial strength. This facility provides liquidity while expanding relationships with local banking partners.” 

About MGE 

MGE generates and distributes electricity to 170,000 customers in Dane County, Wis., and purchases and distributes natural gas to 180,000 customers in seven south-central and western Wisconsin counties. MGE's parent company is MGE Energy, Inc. (Nasdaq: MGEE). The company's roots in the Madison area date back more than 150 years.