South Carolina Electric pricing $400 million 50-year bonds Tuesday

By Aleesia Forni

Virginia Beach, May 19 – South Carolina Electric & Gas Co. plans to sell $400 million of first mortgage bonds due 2065 on Tuesday, according to an informed source and a 424B3 filed with the Securities and Exchange Commission.

BofA Merrill Lynch, Credit Suisse Securities (USA) LLC, Mizuho Securities (USA) Inc., Morgan Stanley & Co. LLC and UBS Securities LLC are the joint bookrunners.

The co-managers are BB&T Capital Markets, MUFG and Synovus Securities Inc.

The Columbia, S.C.-based company will use the proceeds to repay short-term debt, to finance capital expenditures and for general corporate purposes.

SCE&G is the principal subsidiary of Scana Corp., an energy-based holding company.

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