WASHINGTON (dpa-AFX) - South Carolina Electric & Gas Co., principal subsidiary of SCANA Corp. (SCG), said Monday that it sold $250 million principal amount of its First Mortgage Bonds, 4.350% Series due February 1, 2042, in a negotiated offering. The bonds were priced to South Carolina Electric & Gas at 99.042%, and are initially being offered to the public at 99.917% with a yield to maturity of 4.355%. The bonds are expected to be issued on January 30. South Carolina Electric & Gas said it plans to use the net proceeds from the sale of the bonds to repay short-term debt primarily incurred as a result of its construction program, to finance capital expenditures, including costs to construct new nuclear units at the V.C. Summer Nuclear Station, and for general corporate purposes.
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