South Carolina Electric & Gas Company Announces Debt Offering

CAYCE, S.C., Aug. 16, 2018 /PRNewswire/ -- South Carolina Electric & Gas Company (SCE&G), principal subsidiary of SCANA Corporation (NYSE:SCG), announced today that it sold, in a negotiated offering, a total of $700 million principal amount of its First Mortgage Bonds.  The sale consisted of $300 million principal amount of its First Mortgage Bonds, 3.50 percent Series due August 15, 2021 and $400 million principal amount of its First Mortgage Bonds, 4.25 percent Series due August 15, 2028.  The 3-year and 10-year bonds sold today are initially being offered to the public at 99.997 percent and 99.750 percent respectively.  Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, and Wells Fargo Securities, LLC acted as joint book-running managers, and FTN Financial Securities Corp. and Synovus Securities, Inc. acted as co-managers for the transaction.

SCE&G intends to apply the net proceeds from the sale of the bonds to pay $550 million of First Mortgage Bonds with a maturity date of November 1, 2018. SCE&G may also apply the net proceeds from the sale of the bonds to repay borrowings under a credit agreement and other short-term debt and for general corporate purposes.   

It is anticipated that these bonds will be issued on August 17, 2018. The transaction is subject to normal closing conditions.

Copies of a written prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended, relating to the offering of these bonds may be obtained by contacting: Merrill Lynch, Pierce, Fenner & Smith Incorporated, 200 North College Street, NC1-004-03-43, Charlotte, NC, 28255-0001, Attention: Prospectus Department, telephone: 1-800-294-1322, email: dg.prospectus_requests@baml.com; J.P. Morgan Securities LLC, 383 Madison Avenue, New York, New York 10179, Attn: Investment Grade Syndicate Desk, Telephone: 1-212-834-4533; Morgan Stanley & Co. LLC, 180 Varick Street, New York, New York 10014, Attention: Prospectus Department, telephone: 1-866-718-1649;  Wells Fargo Securities, LLC, 608 2^nd Avenue South, Suite 1000, Minneapolis, Minnesota 55402, telephone: 1-800-645-3751, email: wfscustomerservice@wellsfargo.com.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the bonds or any other securities, nor will there be any sale of the bonds or any other securities in any state or jurisdiction in which such an offer, solicitation or sale is not permitted. A registration statement relating to these bonds has been filed with the Securities and Exchange Commission and is effective.

PROFILE
SCANA Corporation, headquartered in Cayce, S.C., is an energy-based holding company principally engaged, through subsidiaries, in electric and natural gas utility operations and other energy-related businesses. Information about SCANA and its businesses is available at www.scana.com.

SCE&G is a regulated public utility engaged in the generation, transmission, distribution and sale of electricity to approximately 727,000 customers in the central, southern and southwestern portions of South Carolina.  The company also provides natural gas service to approximately 373,000 customers throughout South Carolina. More information about SCE&G is available at www.sceg.com.

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SOURCE SCANA Corporation