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South Carolina Public Service plans $550 million revenue obligations
By Sheri Kasprzak
New York, Oct. 9 – The South Carolina Public Service Authority is set to price $550 million of series 2014 revenue obligations, according to a preliminary official statement.
The deal includes $520 million of series 2014C tax-exempt bonds and $30 million of series 2014D taxable bonds.
The 2014C bonds are due 2020 to 2034 with term bonds due in 2036, 2039 and 2046. The 2014D bonds are due 2022 to 2027.
The bonds will be sold through senior managers BofA Merrill Lynch and Barclays. The co-managers are Goldman, Sachs & Co.; Morgan Stanley & Co. LLC; J.P. Morgan Securities LLC; U.S. Bancorp Investments Inc.; and Wells Fargo Securities LLC.
Proceeds will be used to retire commercial paper notes and refinance existing debt.
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