SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM U-6B-2
Certificate of Notification
Filed by a registered
holding company or
subsidiary thereof
pursuant to Rule
20(d) adopted under
the Public Utility
Holding Company Act
of 1935.
SOUTH CAROLINA ELECTRIC & GAS COMPANY
(the Company)
This certificate is notice that the above named company has issued,
renewed or guaranteed the security or securities described herein which issue,
renewal or guaranty was exempted from the provisions of Section 6(a) of the Act
and was neither the subject of a declaration or application on Form U-1 nor
included within the exemption provided by Rule 48.
1. Type of security or securities.
First Mortgage Bonds
2. Issue, renewal or guaranty.
Issue
3. Principal amount of each security.
$56,910,000 due November 1, 2027
$4,365,000 due November 1, 2012
$29,150,000 due November 1, 2032
4. Rate of interest per annum of each security.
$56,910,000 bearing interest at 5.20%
$4,365,000 bearing interest at 4.20%
$29,150,000 bearing interest at 5.45%
5. Date of issue, renewal or guaranty of each security.
November 8, 2002
6. If renewal of security, give date of original issue.
Not Applicable
7. Date of maturity of each security.
$56,910,000 due November 1, 2027
$4,365,000 due November 1, 2012
$29,150,000 due November 1, 2032
8. Name of persons to whom each security was issued, renewed or guaranteed.
The Bonds were issued to and deposited with SunTrust Bank, as trustee
under Bond Trust Indenture dated as of November 1, 2002 (the "Bond
Indenture") with the South Carolina Jobs - Economic Development
Authority (the "Issuer"), to secure the Company's payment obligation
under a Loan Agreement dated as of November 1, 2002 (the "Loan
Agreement") between the Issuer and the Company. The Issuer issued
under the Bond Indenture and sold to SunTrust Capital Markets as
underwriter for public distribution thereafter, $90,425,000 principal
amount Industrial Revenue Bonds (South Carolina Electric & Gas
Project), Series 2002
9. Collateral given with each security, if any.
The first mortgage bonds are secured primarily by (1) a like
principal amount of non-interest bearing first and refunding
mortgage bonds (the Class A Bonds) issued pursuant to the Indenture
of Mortgage, dated January 1, 1945 (the Class A Indenture), between
the Company and J P Morgan Chase Bank, and (2) the lien of the
Indenture dated April 1, 1993 (the New Indenture), between the
Company and The Bank of New York. The Class A Bonds are secured by a
lien upon substantially all of the fixed property and franchises
used or useful in the Company's public utility businesses (except
cash, securities, contracts and accounts receivable, materials and
supplies, natural gas, oil, certain minerals and mineral rights and
certain other assets) now owned by the Company, with certain
exceptions, and the first mortgage bonds issued under the New
Indenture are secured by a lien upon substantially all of the
properties of the Company used in the generation, transmission and
distribution of electric energy, together with any other property
which the Company may elect to subject to such lien. The lien of the
New Indenture is junior to the lien of the Class A Indenture.
10. Consideration received for each security.
$90.4 million
11. Application of proceeds of each security.
The proceeds from the bonds (net of issuance costs) will be used to
refund $62.3 million outstanding principal amount of pollution
control revenue bonds previously issued for the benefit of the
Company, and to pay the costs of solid waste disposal facilities at
two of the Company's electric generating plants.
12. Indicate by a check after the applicable statement below whether the
issue, renewal or guaranty of each security was exempt from the
provisions of Section 6(a) because of:
a. the provisions contained in the first sentence of Section 6(b)
b. the provisions contained in the fourth sentence of Section6(b)
c. the provisions contained in any rule of the commission other than Rule 48 X
13. If the security or securities are exempt from the provisions of
Section 6(a) by virtue of the first sentence of Section 6(b), give
the figures which indicate that the security or securities aggregate
(together with all other than outstanding notes and drafts of a
maturity of nine or less, exclusive of days of grace, as to which
such company is primarily or secondarily liable) not more than five
percentum of the principal amount and par value of the other
securities of such company then outstanding.
Not applicable
14. If the security or securities are exempt from the provisions of
Section 6(a) because of the fourth sentence of Section 6(b), name
the security outstanding on January 1, 1935, pursuant to the terms
of which the security or securities herein described have been
issued.
Not applicable
15. If the security or securities are exempt from the provisions of
Section 6(a) because of any rule of the Commission other than Rule
48 designate the rule under which exemption is claimed.
Rule 52
South Carolina Electric & Gas Company
By: /s James E. Swan, IV
-----------------------------------
James E. Swan, IV
Controller
Dated: November 18, 2002