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Santee Cooper announces spring Mini-Bond sale



03/28/2016


MONCKS CORNER, S.C. — Santee Cooper's spring 2016 Mini-Bond sale is April 1-29 and offers investors the opportunity to purchase tax-free bonds for as little as $200.

Santee Cooper Mini-Bonds, which are tax exempt, are available for purchase by residents of South Carolina, customers of Santee Cooper, members of the state’s electric cooperatives, electric customers of the city of Georgetown and electric customers of the Bamberg Board of Public Works. The term “tax-exempt” means exempt from federal and South Carolina income taxes for South Carolina residents under current law.

“Santee Cooper Mini-Bonds give investors an easy and unique way to enhance their portfolios,” said Lonnie Carter, Santee Cooper president and CEO. “In addition to being an easy investment opportunity, Mini-Bonds also help Santee Cooper fulfill our responsibility to provide South Carolina with low-cost, reliable and environmentally protective electricity.”

Specifically, the spring 2016 Mini-Bond program includes:

  • 2016 Series M1 Capital Appreciation Bonds – Minimum purchase of $200 with interest paid on the following maturity dates: Jan. 1, 2025; Jan. 1, 2030; Jan. 1 2035
  • 2016 Series M1 Current Interest Bearing Bonds – Minimum purchase of $500 with interest paid semiannually. The maturity dates are Jan. 1, 2021; Jan. 1, 2026; Jan. 1, 2031; or Jan. 1, 2036.

Interest rates vary according to maturity dates. A complete list of interest rates will be available at www.scminibonds.com beginning Friday, April 1.

The last date to request an information packet for the 2016 Series M1 Mini-Bonds is Monday, April 24, and the last date to purchase Mini-Bonds is Friday, April 29. Investors can buy bonds via www.scminibonds.com or by calling 1-877-246-3338 to request the necessary forms. The maximum combined purchase is $50,000 per individual, and all forms and payments must be received by 5 p.m. on April 29. For more details, visit www.scminibonds.com, email scbonds@santeecooper.com, or call 1-877-246-3338.

Santee Cooper is South Carolina's largest power provider, the largest Green Power generator and the ultimate source of electricity for 2 million people across the state. Through its low-cost, reliable and environmentally responsible electricity and water services, and through innovative partnerships and initiatives that attract and retain industry and jobs, Santee Cooper powers South Carolina. To learn more, visit www.santeecooper.com