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SOUTH CAROLINA ELECTRIC & GAS COMPANY SELLS $400 MILLION OF FIRST MORTGAGE BONDS, ANNOUNCES PLANS TO REDEEM HIGHER-COST BONDS

 COLUMBIA, S.C., June 18 /PRNewswire/ -- SCANA Corporation (NYSE: SCG) announced today that on June 17, 1993, South Carolina Electric & Gas Company (SCE&G), its principal subsidiary, sold to underwriters in a negotiated offering $400 million aggregate principal amount of the company's First Mortgage Bonds in three series as follows: $100 million principal amount of 6 percent bonds due June 15, 2000; $150 million principal amount of 7 1/8 percent bonds due June 15, 2013; and $150 million principal amount of 7 1/2 percent bonds due June 15, 2023.
 The 6 percent Series 7-year bonds are being offered to the public at 99.912 percent of principal amount to yield 6.02 percent to maturity, with proceeds to SCE&G of 99.312 percent which results in an annual interest rate to the company of 6.12 percent. The bonds of this Series are non-callable prior to maturity.
 The 7 1/8 percent Series 20-year bonds are being offered to the public at 99.186 percent of principal amount to yield 7.20 percent to maturity, with proceeds to SCE&G of 98.311 percent which results in an annual interest rate to the company of 7.29 percent. The bonds of this Series are also non-callable prior to maturity.
 The 7 1/2 percent Series 30-year bonds are being offered to the public at 99.380 percent of principal amount to yield 7.55 percent to maturity, with proceeds to SCE&G of 98.505 percent which results in an annual interest rate to the company of 7.63 percent. The bonds of this Series are non-callable for 10 years.
 The closing of the 6 percent Series and 7 1/8 percent Series bonds is scheduled for July 1, 1993. The closing of the 7 1/2 percent Series bonds is scheduled for July 20, 1993.
 The new bonds are expected to be rated "A1" by Moody's Investors Service, "A" by Standard & Poor's and "A+" by Duff & Phelps. PaineWebber Incorporated is lead manager for the offering with Salomon Brothers Inc and The First Boston Corporation as co-managers.
 SCE&G also announced that it will use the net proceeds from today's sale to redeem, on July 20, 1993, $382,035,000 aggregate principal amount of SCE&G's outstanding First and Refunding Mortgage Bonds as follows:
 Redemption Amount
 Series Price (a) Outstanding
 9-7/8 percent due June 1, 2009 104.79 percent $37,035,000
 9-1/8 percent due December 1, 1999 101.84 percent 15,000,000
 9-1/8 percent due February 1, 2006 103.78 percent 50,000,000
 8.90 percent due February 1, 2008 104.30 percent 30,000,000
 8-3/4 percent due February 1, 2017 106.11 percent 100,000,000
 8.40 percent due December 1, 2006 103.77 percent 50,000,000
 8-3/8 percent due March 1, 2007 103.64 percent 30,000,000
 8 percent due June 1, 1999 101.38 percent 35,000,000
 8 percent due March 1, 2001 101.66 percent 35,000,000
 (a) Plus accrued interest to the date of redemption.
 This transaction will lower SCE&G's interest cost by approximately $4.8 million annually, helping to offset increases in its other operating expenses, expected increases in its tax expenses, and the cost of its ongoing construction program.
 The call notices for these issues were mailed to bondholders on June 18, 1993 by Chemical Bank, the Bond Trustee.
 SCE&G is a regulated public utility engaged primarily in the generation, transmission, distribution and sale of electricity and in the purchase, distribution and sale at retail of natural gas in South Carolina.
 -0- 6/18/93
 /CONTACT: H. John Winn, Manager-Investor Relations & Shareholder Services, SCANA Corporation, 803-748-3240/
 (SCG)


CO: SCANA Corporation; South Carolina Electric & Gas Company ST: South Carolina IN: UTI SU:

CM -- CH004 -- 3490 06/18/93 10:21 EDT
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Date:Jun 18, 1993
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