South Carolina Electric & Gas Company Announces Debt Refinancing
20 Junho 2006 - 5:52PM
PR Newswire (US)
COLUMBIA, S.C., June 20, 2006 /PRNewswire-FirstCall/ -- South
Carolina Electric & Gas Company (SCE&G) announced today
that it sold, in a negotiated offering, $125 million principal
amount of its First Mortgage Bonds, 6.25 percent series due July 1,
2036. The 30-year bonds were priced to SCE&G at 98.788 percent,
and are initially being offered to the public at 99.663 percent to
yield 6.275 percent to maturity. Banc of America Securities LLC,
UBS Investment Bank and Wachovia Securities acted as joint
book-running managers for the transaction. BB&T Capital Markets
and BNY Capital Markets, Inc. acted as co-managers for the
transaction. These bonds have been offered in connection with a
distribution by SCE&G, which intends to apply the net proceeds
from the sale of the bonds toward the redemption at maturity of its
9.00 percent First and Refunding Mortgage Bonds due July 15, 2006.
It is anticipated that the new First Mortgage Bonds will be issued
on June 27, 2006. The transaction is subject to normal closing
conditions. Copies of a written prospectus and related prospectus
supplement meeting the requirements of Section 10 of the Securities
Act of 1933, as amended, relating to the offering of these bonds
may be obtained by contacting Wachovia Securities, 8739 Research
Drive, (Mail Code NC0675), Charlotte, NC 28262. South Carolina
Electric & Gas Company is a regulated public utility engaged in
the generation, transmission, distribution and sale of electricity
and in the purchase, sale and transport at retail of natural gas in
portions of South Carolina. DATASOURCE: South Carolina Electric
& Gas Company CONTACT: Investors, John Winn, +1-803-217-9240,
or , or Bryan Hatchell, +1-803-217-7458, or both of SCANA
Corporation Web site: http://www.scana.com/
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