South Carolina Electric & Gas Company Announces $250M Debt Offering

South Carolina Electric & Gas Company, principal subsidiary of SCANA Corporation

, announced today that it sold, in a negotiated offering, $250 million principal amount of its First Mortgage Bonds, 4.350% Series due February 1, 2042. The bonds were priced to SCE&G at 99.042 percent, and are initially being offered to the public at 99.917 percent with a yield to maturity of 4.355 percent. Credit Suisse Securities LLC, Morgan Stanley & Co. LLC, and UBS Securities LLC acted as joint book-running managers, and Deutsche Bank Securities Inc., Mitsubishi UFJ Securities, Inc. and U.S. Bancorp Investments, Inc. acted as co-managers for the transaction. SCE&G intends to apply the net proceeds from the sale of the bonds 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 the V.C. Summer Nuclear Station, and for general corporate purposes.