South Carolina Public Service defeases tax-exempt, refunding bonds

By Tali Rackner

Norfolk, Va., March 6 – The South Carolina Public Service Authority defeased seven series of its refunding bonds, according to a notice.

The following 2006 tax-exempt series A bonds will be redeemed at par on Jan. 1, 2016:

• $4,655,000 of 4% bonds due Jan. 1, 2017;

• $2,635,000 of 5% bonds due Jan. 1, 2018; and

• $6.08 million of 4.5% bonds due Jan. 1, 2030.

The following 2007 tax-exempt series A bonds will be redeemed at par on Jan. 1, 2017:

• $11,965,000 of 5% bonds due Jan. 1, 2020;

• $10 million of 4.5% bonds due Jan. 1, 2027; and

• $10,785,000 of 5% bonds due Jan. 1, 2032.

The following 2008 tax-exempt series A bonds will be redeemed at par on Jan. 1, 2019:

• $11.2 million of 5.125% bonds due Jan. 1, 2022;

• $5.55 million of 5.125% bonds due Jan. 1, 2023;

• $12.22 million of 5.375% bonds due Jan. 1, 2024;

• $12,875,000 of 5.375% bonds due Jan. 1, 2025;

• $13,565,000 of 5.375% bonds due Jan. 1, 2026;

• $14,295,000 of 5.375% bonds due Jan. 1, 2027; and

• $23.33 million of 5.5% bonds due Jan. 1, 2029.

The following 2009 tax-exempt series B bonds will be redeemed at par on Jan. 1, 2019:

• $5.23 million of 5% bonds due Jan. 1, 2020;

• $5,495,000 of 5% bonds due Jan. 1, 2021;

• $6,365,000 of 5% bonds due Jan. 1, 2024;

• $6.67 million of 5% bonds due Jan. 1, 2025; and

• $7,005,000 of 5% bonds due Jan. 1, 2026.

The following 2005 refunding series C bonds will be redeemed at par on July 1, 2015:

• $26.06 million of 4.75% bonds due Jan. 1, 2023;

• $25.44 million of 4.75% bonds due Jan. 1, 2024;

• $24,745,000 of 4.75% bonds due Jan. 1, 2025; and

• $1,905,000 of 4.125% bonds due Jan. 1, 2025.

The following 2005 refunding series A bonds will be redeemed at par on Jan. 1, 2016:

• $4.88 million of 5.25% bonds due Jan. 1, 2017;

• $5.19 million of 5.25% bonds due Jan. 1, 2018;

• $14.52 million of 5.25% bonds due Jan. 1, 2019;

• $28.9 million of 5.25% bonds due Jan. 1, 2020;

• $23.89 million of 5.25% bonds due Jan. 1, 2021; and

• $10.18 million of 5.25% bonds due Jan. 1, 2022.

The following 2005 refunding series B bonds will be redeemed at par on Jan. 1, 2016:

• $18.69 million of 5% bonds due Jan. 1, 2017;

• $19.58 million of 5% bonds due Jan. 1, 2018;

• $20,505,000 of 5% bonds due Jan. 1, 2019;

• $21,555,000 of 5% bonds due Jan. 1, 2020;

• $43.65 million of 5% bonds due Jan. 1, 2020;

• $67,485,000 of 5% bonds due Jan. 1, 2022; and

• $25.6 million of 5% bonds due Jan. 1, 2023.

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