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Santee Cooper kicks off fall 2012 Mini-Bond sale
Published Monday, October 01, 2012 11:31 AM

MONCKS CORNER, S.C. —Santee Cooper announces its fall 2012 Mini-Bond sale today, offering investors the opportunity to purchase municipal bonds throughout October 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 2017 through 2032. 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 2012 Series M1 Mini-Bonds is Oct. 26, and the last date to order Mini-Bonds is Oct. 31. 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 investors a unique and easy opportunity to enhance their portfolios by investing in South Carolina through purchasing our Mini-Bonds,” said Lonnie Carter, Santee Cooper president and CEO. “Mini-Bonds also help Santee Cooper fulfill our responsibility to provide South Carolina with reliable, low-cost and environmentally protective electricity.”

Specifically, the fall 2012 Mini-Bond program includes:

  • 2012 Series M2 Capital Appreciation Bonds: Minimum purchase is $200 and interest is paid on the Mini-Bonds’ maturity date: Jan. 1, 2021; Jan. 1, 2026; or Jan. 1, 2031.

  • 2012 Series M1 Current Interest Bearing Bonds: Minimum purchase is $500; interest is paid semiannually. The Mini-Bonds’ maturity dates are Jan. 1 of 2017, 2022, 2027, or 2032.

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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