Santee Cooper Announces Bond Sale
May 6, 2009
MONCKS CORNER, SC – May 6, 2009 – Santee Cooper, the South Carolina Public Service Authority, is offering $330,950,000 in refunding and new money bonds.
The issue includes $113,515,000 tax-exempt refunding Series A bonds, $166,500,000 2009 tax-exempt Series B bonds, and $50,935,000 2009 taxable Series C bonds. The term “tax-exempt” means exempt from federal and South Carolina income taxes for South Carolina residents.
Bonds are to be sold this week. Maturities range from 2010 through 2044. The Preliminary Official Statement for these bonds is available by contacting any of the firms listed below or Santee Cooper Bondholder Relations at 1-877-246-3338.
Proceeds will be spent on current capital needs and to refinance a portion of Santee Cooper’s outstanding debt.
Lead underwriter for this transaction is Citigroup Global Markets Inc. The underwriting team also includes Goldman Sachs & Co., Merrill Lynch & Co., and Morgan Stanley & Co.
Santee Cooper
Santee Cooper is South Carolina’s state-owned electric and water utility, and the state’s largest power producer, supplying electricity to more than 163,000 retail customers in Berkeley, Georgetown, and Horry counties, as well as to 31 large industrial facilities, the cities of Bamberg and Georgetown, and the Charleston Air Force Base. Santee Cooper also generates the power distributed by the state’s 20 electric cooperatives to more than 700,000 customers in all 46 counties. Approximately 2 million South Carolinians receive their power directly or indirectly from Santee Cooper. The utility also provides water to 137,000 consumers in Berkeley and Dorchester counties, and the town of Santee. For more information, visit www.santeecooper.com. For information on how Santee Cooper lives green and how you can go green, visit www.SanteeCooperGreen.com.
