Columbia, SC, December 19, 2006 … SCANA Corporation (NYSE: SCG) announced today that is has closed on a new revolving credit facility at the holding company and amended existing revolving credit facilities for three of its subsidiaries that will provide increased financial flexibility and maintain the strong relationships the Company has with its banking partners. These committed lines of credit total $1.1 billion, have a term of 5 years and replace existing committed credit facilities totaling $875 million, of which $225 million was in 364-day revolvers.
The new lines of credit consist of (1) a new $200 million, 5-year revolving credit facility for SCANA Corporation (SCANA); (2) a $400 million, 5-year revolving credit facility for South Carolina Electric & Gas Company (SCE&G); (3) a $250 million, 5-year revolving credit facility for South Carolina Fuel Company (SCFC); and (4) a $250 million, 5-year revolving credit facility for Public Service Company of North Carolina, Inc. (PSNC Energy). These facilities will be used for general corporate purposes, including liquidity support for each company’s commercial paper program and working capital needs and, in the case of SCFC, to finance or refinance the purchase of nuclear fuel, fossil fuel, emission and other environmental allowances.
"We are pleased to have successfully completed these expanded credit facilities," said Jimmy Addison, senior vice president and chief financial officer. "The very positive response from our banking group confirms the strong level of support and confidence the credit markets have in SCANA and its subsidiaries."
Wachovia Capital Markets, LLC and Banc of America Securities, LLC acted as joint lead arrangers and joint book-running managers for the new credit facilities.
SCANA Corporation, a Fortune 500 company headquartered in Columbia, South Carolina, is a registered holding company engaged, through subsidiaries, in regulated electric and natural gas utility operations, telecommunications and other diversified energy-related businesses. The Company serves approximately 620,000 electric customers in South Carolina and more than one million natural gas customers in South Carolina, North Carolina and Georgia. Information about SCANA Corporation and its businesses is available on the Company’s web site at www.scana.com.