Santee Cooper kicks off spring Mini-Bond sale
March 25, 2015
MONCKS CORNER, SC – Santee Cooper begins its spring 2015 Mini-Bond sale April 1, offering investors the opportunity to purchase municipal bonds throughout April for as little as $200.
Santee Cooper Mini-Bonds, which are tax exempt, 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. The term “tax-exempt” means exempt from federal and South Carolina income taxes for South Carolina residents under current law.
Interest rates vary according to the bond maturity dates, which range from 2020 through 2035. Beginning April 1, a complete list of interest rates will be available throughout the sale at www.scminibonds.com.
The last date to request an information packet for the 2015 Series M1 Mini-Bonds is April 24, and the last date to order Mini-Bonds is April 30. Investors can purchase Mini-Bonds directly from Santee Cooper by ordering bonds online at www.scminibonds.com or by calling toll-free 1-877-246-3338 to request information or order forms. The maximum combined purchase is $50,000 per individual.
“We are pleased to again offer Santee Cooper Mini-Bonds to give investors an easy and unique way to enhance their portfolios,” said Lonnie Carter, Santee Cooper president and CEO. “In addition to being an easy investment opportunity, Mini-Bonds also help Santee Cooper fulfill our responsibility to provide South Carolina with low-cost, reliable and environmentally protective electricity.”
Specifically, the spring 2015 Mini-Bond program includes:
- 2015 Series M1 Capital Appreciation Bonds: Minimum purchase of $200 and interest is paid on the Mini-Bonds’ maturity date: Jan 1, 2024; Jan. 1, 2029; or Jan. 1, 2034.
- 2015 Series M1 Current Interest Bearing Bonds: Minimum purchase of $500; interest is paid semiannually. The Mini-Bonds’ maturity dates are Jan 1, 2020; Jan. 1, 2025; Jan. 1, 2030; and Jan 1, 2035.
Santee Cooper is South Carolina’s largest power producer, largest Green Power generator and the ultimate source of electricity for 2 million people across the state. Through its low-cost, reliable and environmentally responsible electricity and water services, and through innovative partnerships and initiatives that attract and retain industry and jobs, Santee Cooper powers South Carolina. To learn more, visit www.santeecooper.com.
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