South Carolina Electric & Gas Company Announces Debt Offering

Jun 10, 2013, 20:38 ET from SCANA Corporation

CAYCE, S.C., June 10, 2013 /PRNewswire/ --  South Carolina Electric & Gas Company (SCE&G), principal subsidiary of SCANA Corporation (NYSE: SCG), announced today that it sold, in a negotiated offering, $400 million principal amount of its First Mortgage Bonds, 4.60% Series due June 15, 2043.  The bonds sold today are initially being offered to the public at 99.500 percent with a yield to maturity of 4.631 percent.  Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. LLC, UBS Securities LLC, Mizuho Securities USA Inc., and TD Securities (USA) LLC acted as joint book-running managers, and BB&T Capital Markets, a division of BB&T Securities, LLC, Mitsubishi UFJ Securities (USA), Inc., and Synovus Securities, Inc., acted as co-managers for the transaction.


SCE&G intends to apply the net proceeds from the sale of the bonds to pay at maturity $150 million of our First Mortgage Bonds due June 15, 2013, to repay short-term debt primarily incurred as a result of our construction program, to finance capital expenditures, including costs to construct new nuclear units at our V.C. Summer Nuclear Station, and for general corporate purposes.

It is anticipated that these bonds will be issued on June 14, 2013. 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: Merrill Lynch, Pierce, Fenner & Smith Incorporated, 222 Broadway, 11th Floor, New York, New York 10038, Attention: Prospectus Department, email: and toll-free: 1-800-294-1322; Morgan Stanley & Co. LLC, 180 Varick Street, New York, New York 10014, Attention: Prospectus Department; UBS Securities LLC, 299 Park Avenue, New York, New York 10171, Attention: Prospectus Specialist, telephone: 877-827-6444, ext. 561 3884, Mizuho Securities USA Inc., 320 Park Avenue, 11th Floor, New York, New York 10022; and TD Securities (USA) LLC, 31 West 52nd Street, New York, New York 10019.

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 of natural gas in portions of South Carolina.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the notes or any other securities, nor will there be any sale of the notes or any other securities in any state or jurisdiction in which such an offer, solicitation or sale is not permitted. A registration statement relating to these securities has been filed with the Securities and Exchange Commission and is effective.

Investor Contact: Byron Hinson (803) 217-5352

SOURCE SCANA Corporation