RULE 424(b)(2)
File No. 333-71038
PRICING
SUPPLEMENT NO. 4 dated November 22, 2002
(To Prospectus Supplement dated April 1, 2002 and Prospectus dated October 23, 2001)
MADISON GAS AND ELECTRIC COMPANY
Medium-Term Notes
Due from Nine Months to 30 Years from Date of Issue
| Form of Notes: | ||
ý Global Notes |
o Certificated Notes |
|
CUSIP Number: |
5574A0 AD 9 |
|
Principal Amount: |
$15,000,000 |
|
Issue Price (as a percentage of principal amount): |
100%, plus accrued interest, if any, from November 27, 2002 |
|
Original Issue Date: |
November 27, 2002 |
|
Maturity Date: |
November 26, 2004 |
If the Notes have a Fixed Rate: |
If the Notes have a Floating Rate: |
||||||
Interest Rate: |
N/A |
Base Rate: |
LIBOR Telerate |
||||
Interest Payment Dates: |
N/A |
Spread (+/-): |
+ .125% |
||||
Record Dates: |
N/A |
Spread Multiplier: |
N/A |
||||
Initial Interest Rate: |
Three-month LIBOR, which appears on the Telerate Page 3750 as of 11:00 a.m., London, England time, on November 25, 2002, plus 12.5 basis points |
||||||
Interest Reset Period: |
Quarterly |
||||||
Interest Reset Dates: |
The third Wednesday of March, June, September and December of each year |
||||||
Initial Interest Reset Date: |
December 18, 2002 |
||||||
Interest Determination Dates: |
Two London Business Days prior to the Interest Reset Dates |
||||||
Interest Payment Dates: |
The third Wednesday of March, June, September and December of each year and the Maturity Date |
||||||
Record Dates: |
15 calendar days prior to the applicable Interest Payment Date (except in the case of Maturity, the Maturity Date) |
||||||
Index Maturity: |
Three months |
||||||
Maximum Interest Rate: |
N/A |
||||||
Minimum Interest Rate: |
N/A |
||||||
Amortizing Note: |
o yes |
ý no |
|||
Option To Elect Repayment: |
o yes |
ý no |
|||
Optional Extension of Original Maturity Date: |
o yes |
ý no |
|||
Extension period: |
N/A |
||||
Number of extension periods: |
N/A |
||||
Final maturity date: |
N/A |
||||
Optional Interest Reset: |
o yes |
ý no |
|||
Optional Interest Reset Dates: |
N/A |
||||
Original Issue Discount Note: |
o yes |
ý no |
|||
Redemption: |
|||||
ý Notes cannot be redeemed prior to maturity |
o Notes may be redeemed prior to maturity |
||||
Initial Redemption Date: |
N/A |
||||
Initial Redemption Percentage: |
N/A |
||||
Annual Redemption |
|||||
| Reduction Percentage: | N/A | ||||
Additional Terms: |
|||||
o Agency Transaction |
ý Principal Transaction |
||||
Agent's Discount or Commission: |
$37,500 |
||||
Proceeds to Company: |
$14,962,500 |
||||
USE OF PROCEEDS
We intend to use our net proceeds from the sale of the notes to repay outstanding commercial paper maturing within 15 days and having a weighted average interest rate of 1.9% as of November 21, 2002. We used the proceeds from commercial paper issuances to finance capital expenditures, including the installation of an automated meter reading system.
PS-2