PrintPrintThe state-owned electric and water utility will use the proceeds for pre-construction work for the V.C. Summer Nuclear Generating Station expansion, for costs related to a recent judgment regarding the U.S. Army Corps of Engineers’ Cooper River Rediversion Project and to refinance part of the utility’s outstanding debt.
Staff Report
Published Oct. 22, 2009
Santee Cooper is offering $418.6 million in tax-exempt bonds.
The state-owned electric and water utility will use proceeds for pre-construction work for the V.C. Summer Nuclear Generating Station expansion, for costs related to a recent judgment regarding the U.S. Army Corps of Engineers’ Cooper River Rediversion Project and to refinance part of the utility’s outstanding debt.
Bonds were to be sold to retail markets on Oct. 21 and institutionally today. Maturities range from 2011 to 2040.
Lead underwriter for this transaction is Goldman Sachs & Co. The underwriting team also includes Citigroup Global Markets Inc., Merrill Lynch & Co. and Morgan Stanley & Co.
Santee Cooper supplies electricity to more than 163,000 retail customers in Berkeley, Georgetown and Horry counties, to 31 large industrial facilities, the cities of Bamberg and Georgetown and the Charleston Air Force Base.
Santee Cooper also generates the power distributed by the state’s 20 electric cooperatives to customers in all 46 counties.
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