BB&T Capital Markets Serves as Joint Lead Manager for South Carolina Electric Gas’ $500 Million Two-Tranche First Mortgage Bond Offering
On June 8, 2016, BB&T Capital Markets served as a joint lead managers for a $500 million offering of first mortgage bonds for South Carolina Electric & Gas Company, a subsidiary of SCANA Corp. The offering consisted of two tranches: a $425 million offering of 30-year bonds and a $50 million re-opening of SCE&G’s existing 2064 maturity.
Proceeds from the transaction are being used to repay short-term debt that was primarily incurred as a result of SCE&G’s construction program, to finance capital
expenditures and for general corporate purposes.
About the Companies
SCE&G is a public utility engaged in the generation, transmission, distribution and sale of electricity and the purchase, sale and transportation of natural gas in South Carolina. SCE&G’s electric service area extends into 24 counties covering nearly 17,000 square miles in the central, southern and southwestern portions of South Carolina. SCE&G’s service area for natural gas encompasses approximately 23,000 square miles in all or part of 36 counties in South Carolina. The total population of the counties representing SCE&G’s combined service area is more than 3.3 million.
About BB&T Capital Markets
BB&T Capital Markets offers an integrated platform of equity and debt underwriting, M&A advisory, corporate banking, and sales and trading. Headquartered in Richmond, VA, with offices throughout the US, we have specific expertise within 10 distinct industry verticals including Automotive Aftermarket; Commercial & Industrial; Education; Energy; Financial Services; Food & Agribusiness; Healthcare; Logistics & Transportation Services; Real Estate; and Retail & Consumer. Our commitment to industry expertise, combined with our resources as one of the nation's strongest financial institutions, strategically positions BB&T Capital Markets to build lasting relationships and contribute measurably to the long-term success of our clients.