green tips
press releases
local green
green videos
useful links
berkeley independent
Georgetown Times
 Printer friendly version |  E-mail to a friend 0 0 comment(s)

Santee Cooper announces refunding bond sale
Published Friday, August 19, 2011 11:29 AM
MONCKS CORNER, S.C.—The Board of Directors of Santee Cooper approved the sale of $288,515,000 in refunding bonds, with a present value savings of $22.6 million, in a telephonic board meeting today.

The 2011Refunding Series B bonds are tax-exempt and are being issued to redeem a portion of Santee Cooper’s 2002 series D and 2004 series A bonds and pay the cost of issuance. Maturities range from 2013 through 2021.The all-in true interest cost was calculated at 2.27 percent. The term “tax-exempt” means exempt from federal and South Carolina income taxes for South Carolina residents under current law.

The Final Official Statement for these bonds will be available by contacting Santee Cooper Bondholder Relations at 1-877-246-3338. It will also be posted at www.santeecooper.com/investorrelations.

Fitch assigned an AA rating to the bond, Standard and Poor’s assigned an AA- rating, and Moody’s assigned Aa3. All rating agencies listed their ratings as stable.

Lead underwriter for this transaction is Goldman, Sachs & Co. The underwriting team also includes JP Morgan, Wells Fargo Securities and US Bancorp.

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.

Comments (0)
Notice about comments:
BerkeleyIndependent.com is pleased to offer readers the ability to comment on stories. We expect our readers to engage in lively, yet civil discourse. BerkeleyIndependent.com does not edit user submitted statements and we cannot promise that readers will not occasionally find offensive or inaccurate comments posted in the comments area. Responsibility for the statements posted lies with the person submitting the comment, not BerkeleyIndependent.com. If you find a comment that is objectionable, please click "report abuse" and we will review it for possible removal. Please be reminded, however, that in accordance with our Terms of Use and federal law, we are under no obligation to remove any third party comments posted on our website.

green on campus
Eco Geek