South Carolina Electric & Gas Company Announces Debt Offering

CAYCE, S.C., June 8, 2016 /PRNewswire/ -- South Carolina Electric & Gas Company (SCE&G), principal subsidiary of SCANA Corporation (NYSE: SCG), announced today that it sold, in a negotiated offering, $425 million principal amount of its First Mortgage Bonds, 4.10% Series due June 15, 2046, and $75 million principal amount of its First Mortgage Bonds, 4.50% Series due June 1, 2064, which are a part of a series of bonds having identical terms that SCE&G previously sold in May 2014.  The 2046 bonds sold today are initially being offered to the public at 99.794 percent with a yield to maturity of 4.112 percent.  The 2064 bonds sold today are initially being offered to the public at 97.843 percent with a yield to maturity of 4.612 percent.  BB&T Capital Markets LLC, a division of BB&T Securities, J.P. Morgan Securities LLC, Mitsubishi UFJ Securities (USA), Inc., TD Securities (USA) LLC, UBS Securities LLC, and Wells Fargo Securities, LLC acted as joint book-running managers, and U.S. Bancorp Investments, Inc., Drexel Hamilton, LLC, and FTN Financial Securities Corp. acted as co-managers for the transaction.

SCE&G intends to apply the net proceeds from the sale of the bonds to repay short-term debt, primarily incurred as a result of its construction program, to finance capital expenditures, including costs to construct new nuclear units at its V.C. Summer Nuclear Station, and for general corporate purposes.

It is anticipated that these bonds will be issued on June 13, 2016. The transaction is subject to normal closing conditions.

Copies of a written prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended, relating to the offering of these bonds may be obtained by contacting:  BB&T Capital Markets LLC, 901 East Byrd Street, Suite 300, Richmond, Virginia 23219, Attention: Prospectus Specialist, telephone: (804) 787-8221, email: [email protected];  J.P. Morgan Securities LLC, 383 Madison Avenue, New York, NY 10179, Attention: Investment Grade Syndicate Desk, 3rd Floor, telephone collect at 1-212-834-4533;  Mitsubishi UFJ Securities (USA), Inc.,1221 Avenue of the Americas, 6th Floor, New York, NY 10020, Attention: Capital Markets Group, telephone: (212) 405-7440;  TD Securities (USA) LLC, 31 West 52nd Street, New York, NY, 10019, Attention: Debt Capital Markets Syndicate, telephone: 1-855-495-9846;  UBS Securities LLC, 1285 Avenue of the Americas, New York, New York 10019, Attention: Prospectus Specialist, telephone: 1-888-827-7275;  and Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, Attention: WFS Customer Service, Toll-free: 1-800-645-3751 email: [email protected]   

South Carolina Electric & Gas Company is a regulated public utility engaged in the generation, transmission, distribution and sale of electricity and in the purchase, sale and transport of natural gas in portions of South Carolina.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the bonds or any other securities, nor will there be any sale of the bonds or any other securities in any state or jurisdiction in which such an offer, solicitation or sale is not permitted. A registration statement relating to these securities has been filed with the Securities and Exchange Commission and is effective.

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SOURCE SCANA Corporation