Issuer: | South Carolina Electric & Gas Company |
Name of Securities: | First Mortgage Bonds, 4.350% Series due February 1, 2042 |
Size: | $250,000,000 |
Expected Ratings: | Moody’s: A3 (stable outlook); S&P: A (stable outlook); Fitch: A (stable outlook). A securities rating is not a recommendation to buy, sell or hold securities and may be subject to review, revision, suspension, reduction or withdrawal at any time by the assigning rating agency. |
Trade Date: | July 10, 2012 |
Settlement Date: | July 13, 2012 (T+3) |
Maturity: | February 1, 2042 |
Coupon (Interest Rate): | 4.350% |
Benchmark Treasury: | 3.125% due February 15, 2042 |
Benchmark Treasury Price / Yield: | 110-20 / 2.608% |
Re-Offer Spread: | +125 basis points (1.25%) |
Re-Offer Yield: | 3.858% |
Interest Payment Dates: | February 1 and August 1, commencing August 1, 2012 |
Make-Whole Redemption Provision: | Prior to August 1, 2041, make-whole call at Adjusted Treasury Rate +20 basis points |
Par Redemption Provision: | On or after August 1, 2041 |
Underwriting Discount: | 0.875% |
Net Proceeds to Issuer (before expenses): | $269,382,500, plus accrued interest from, and including, January 30, 2012 |
Price to Public: | 108.628%, plus accrued interest from, and including, January 30, 2012 to, but excluding, July 13, 2012. The total amount of accrued interest on July 13, 2012 will be $4,923,958.33. |
Denominations: | $1,000 x $1,000 |
CUSIP: | 837004 CF5 |
BB&T Capital Markets, a division of Scott & Stringfellow, LLC - | 1-804-787-8221 (collect) | |
Mizuho Securities USA Inc. - | 1-866-271-7403 (toll free) | |
Wells Fargo Securities, LLC - | 1-800-326-5897 (toll free) |