Santee Cooper concludes spring 2010 Mini-Bond sale
May 7, 2010
MONCKS CORNER, SC – May 5, 2010 – Santee Cooper concluded itsspring 2010 Mini-Bond sale Friday, April 30, with investors placing1,950 orders for nearly $28 million in bonds. The bonds were sold in twoseries: 2010 Spring Series Capital Appreciation Bonds and 2010 SpringSeries Current Interest Bearing Bonds.
Santee Cooper Mini-Bonds, which are exempt from federal and SouthCarolina state taxes, are available twice a year for purchase byresidents of South Carolina and customers of Santee Cooper, members ofthe state’s electric cooperatives, and electric customers of the city ofGeorgetown and the Bamberg Board of Public Works. Interest rates on thespring sale varied according to the bond maturity dates, which rangefrom 2013 through 2030. The maximum purchase allowed was $50,000 perindividual.
Proceeds from the spring 2010 Mini-Bond sale will be used to fundcapital improvements to Santee Cooper’s transmission system, whichserves electric customers throughout South Carolina and which achievedan enviable reliability rate of 99.9989 percent in 2009. Orders will betaken for the fall 2010 sale during the month of October.
Santee Cooper is South Carolina’s state-owned electric and waterutility, and the state’s largest power producer. The ultimate source ofelectricity for 2 million South Carolinians, Santee Cooper is dedicatedto being the state’s leading resource for improving the quality of lifefor the people of South Carolina. For more information, visit www.santeecooper.com.
