H. John Winn, III
November 12, 2003, Columbia, SC. - SCANA Corporation (NYSE:SCG) announced today that it sold, in a negotiated offering, $200 million principal amount of senior unsecured floating-rate medium-term notes due November 15, 2006. The three-year notes, which will be priced to the public at 100 percent, are callable at par on or after May 15, 2004. The interest rate on the notes will be the three-month LIBOR plus 45 basis points, and will be reset quarterly. UBS Securities LLC was the sole bookrunner for the transaction.
It is anticipated that the notes will be issued on November 19, 2003. The transaction is subject to normal closing conditions.
Net proceeds from the offering will be used by SCANA to redeem $150 million of floating-rate medium-term notes, and to reduce short-term indebtedness at the holding company.
A registration statement related to these securities has been filed with the Securities and Exchange Commission and has become effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. This offering may be made only by means of a prospectus and related pricing supplement, copies of which may be obtained by contacting UBS Securities
LLC, Attention: Prospectus Department, Telephone (888) 827-7275.
SCANA Corporation, headquartered in Columbia, SC, is an energy-based holding company principally engaged, through subsidiaries, in regulated electric and natural gas utility operations, telecommunications and other non-regulated energy-related businesses.