By Andrea Heisinger
Omaha, March 5 - Scana Corp. priced $250 million 6.25% 12-year medium-term notes Wednesday to yield Treasuries plus 260 basis points, according to an FWP filing with the Securities and Exchange Commission.
The notes (Baa1/BBB+/A-) priced at 99.652 to yield 6.291%. They have a make-whole redemption option of Treasuries plus 40 bps.
Interest will be payable semiannually.
Bookrunners were Banc of America Securities LLC, BB&T Capital Markets and UBS Investment Bank. Wells Fargo Securities was a co-manager.
Proceeds will be used to repay short-term debt incurred to pay at maturity on March 1, 2008 $100 million of its floating-rate MTNs, to pay at maturity $115 million of its MTNs due Oct. 23, 2008, to repay other short-term debt and for general corporate purposes.
The electric and natural gas provider is based in Columbia, S.C.
| Issuer: | Scana Corp.
|
| Issue: | Medium-term notes
|
| Amount: | $250 million
|
| Maturity: | April 1, 2020
|
| Bookrunners: | Banc of America Securities LLC, BB&T Capital Markets, UBS Investment Bank
|
| Co-manager: | Wells Fargo Securities
|
| Coupon: | 6.25%
|
| Price: | 99.652
|
| Yield: | 6.291%
|
| Spread: | Treasuries plus 260 bps
|
| Call: | Make-whole at Treasuries plus 40 bps
|
| Trade date: | March 5
|
| Settlement date: | March 12
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB+
|
| Fitch: A-
|
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