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SOUTH CAROLINA ELECTRIC & GAS COMPANY SELLS $100 MILLION FIRST MORTGAGE BONDS

 COLUMBIA, S.C., June 2 /PRNewswire/ -- SCANA Corporation (NYSE: SCG) announced that South Carolina Electric & Gas Company (SCE&G), its principal subsidiary, today sold $100 million principal amount of 7 5/8 percent First Mortgage Bonds to a group of underwriters managed by PaineWebber, Inc. The 30-year bonds, which are non-callable for 10 years, will be priced for reoffering to the public at 99.704 percent of principal amount to provide investors a 7.65 percent yield to maturity. The bonds were priced to SCE&G at 98.829 percent of principal amount, which results in an annual interest rate to the company of 7.726 percent.
 Proceeds from the sale will be used for general corporate purposes, including the financing of SCE&G's construction program and the reduction of short-term debt.
 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- 6/2/93
 /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 -- CH020 -- 4559 06/02/93 15:10 EDT
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Publication:PR Newswire
Date:Jun 2, 1993
Words:204
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