By Andrea Heisinger
New York, May 5 - Scana Corp. sold $300 million of 4.75% 10-year medium-term notes on Thursday to yield 160 basis points over Treasuries, a source close to the sale said.
The notes (Baa2/BBB/BBB+) were priced at 99.739 to yield 4.783%.
The notes have a make-whole call at 25 bps over Treasuries until Feb. 15, 2021 and are callable at par after that date.
Morgan Stanley & Co. Inc., UBS Securities LLC and Wells Fargo Securities LLC were the bookrunners.
Proceeds are being used to pay $300 million of medium-term notes due on May 15 at maturity.
The electric generation, transmission and distribution company is based in Cayce, S.C.
| Issuer: | Scana Corp.
|
| Issue: | Medium-term notes
|
| Amount: | $300 million
|
| Maturity: | May 15, 2021
|
| Bookrunners: | Morgan Stanley & Co. Inc., UBS Securities LLC, Wells Fargo Securities LLC
|
| Coupon: | 4.75%
|
| Price: | 99.739
|
| Yield: | 4.783%
|
| Spread: | Treasuries plus 160 bps
|
| Call: | Make-whole at Treasuries plus 25 bps until Feb. 15, 2021, then at par
|
| Trade date: | May 5
|
| Settlement date: | May 12
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB
|
| Fitch: BBB+
|
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