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Santee Cooper Board announces Build America Bonds sale
Published Monday, January 31, 2011 11:01 AM
MONCKS CORNER, S.C. –Santee Cooper, the South Carolina Public Service Authority, is offering $300,000,000 in Build America revenue bonds in accordance with the American Recovery and Reinvestment Act of 2009.

The 2010 Series C bonds are taxable and being issued to fund a portion of Santee Cooper’s share of new generation at the V.C. Summer Nuclear Generating Station and for other improvements to the system.

Bonds are to be sold this week and the maturity date is 2050, with installment payoffs beginning in 2045. 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. The POS and an audio presentation are also available at www.santeecooper.com/investor-relations.

Lead underwriter for this transaction is Citigroup Global Markets Inc. The underwriting team also includes Goldman, Sachs & Co.,  BofA Merrill Lynch & Co., and Morgan Stanley & Co.

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.

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