Santee Cooper kicks off spring 2011 Mini-Bond sale
April 4, 2011
MONCKS CORNER,SC – April 4, 2011 – Santee Cooper opens its spring 2011 Mini-Bond sale tomorrow, April 1, offering investors the opportunity to purchase municipal bonds for as little as $200.
Santee Cooper Mini-Bonds, which are exempt from federal and South Carolina state taxes, are available for purchase by residents of South Carolina, customers of Santee Cooper, members of the state’s electric cooperatives, electric customers of the city of Georgetown and electric customers of the Bamberg Board of Public Works. Interest rates vary according to the bond maturity dates, which range from 2016 through 2031. A complete list of interest rates will be available throughout the sale at www.scminibonds.com.
The sale will continue through April; the last date to request an information packet is April 22, and the last date to order Mini-Bonds is April 29. Investors can purchase Mini-Bonds directly from Santee Cooper by ordering bonds online at www.scminibonds.com or by calling 1-877-246-3338 to request information or order forms. The maximum combined purchase is $50,000 per individual.
“Our Mini-Bonds help investors enhance their portfolios by investing in South Carolina,” said Lonnie Carter, Santee Cooper president and CEO. “Equally important, Mini-Bonds help Santee Cooper continue to provide South Carolina with reliable, low-cost and environmentally protective electricity.”
Specifically, the spring 2011 Mini-Bond program includes:
- 2011 Spring Series Capital Appreciation Bonds: Minimum purchase is $200 and interest is paid on the Mini-Bonds’ maturity date: Jan. 1, 2020; Jan. 1, 2025; or Jan. 1, 2030.
- 2011 Spring Series Current Interest Bearing Bonds: Minimum purchase is $500;interest is paid semiannually. The Mini-Bonds’ maturity dates are Jan. 1 of 2016, 2021, 2026, or 2031.
Santee Cooper is South Carolina’s state-owned electric and water utility, and the state’s largest power producer. The ultimate source of electricity for 2 million South Carolinians, Santee Cooper is dedicated to being the state’s leading resource for improving the quality of life for the people of South Carolina. For more information, visit www.santeecooper.com.
