By Lisa Kerner
Charlotte, N.C., June 29 - South Jersey Gas Co. issued $115 million principal amount of medium-term notes on Thursday, according to an 8-K filing with the Securities and Exchange Commission.
The notes were issued as follows:
• $64 million of 2.39% senior notes, series 2012A, due June 28, 2015;
• $16 million of 2.71% senior notes, series 2012B, due June 28, 2017; and
• $35 million of 3.46% senior notes, series 2012C, due June 28, 2022.
Proceeds will be used to repay short-term debt and for general corporate purposes.
The notes have a make-whole call option at Treasuries plus 50 basis points.
Purchasers include Metlife Insurance Co. of Connecticut, Metropolitan Life Insurance Co., Modern Woodmen of America and Thrivent Financial for Lutherans.
South Jersey Gas, based in Folsom, N.J., is a natural gas service provider and the principal subsidiary of South Jersey Industries.
| Issuer: | South Jersey Gas Co.
|
| Issue: | Medium-term notes
|
| Call option: | Make-whole at Treasuries plus 50 bps
|
| Settlement date: | June 28
|
| Distribution: | Private placement
|
| Purchasers: | Metlife Insurance Co. of Connecticut, Metropolitan Life Insurance Co., Modern Woodmen of America and Thrivent Financial for Lutherans
|
|
|
| Series 2012A
|
| Amount: | $64 million
|
| Maturity: | June 28, 2015
|
| Coupon: | 2.39%
|
|
|
| Series 2012B
|
| Amount: | $16 million
|
| Maturity: | June 28, 2017
|
| Coupon: | 2.71%
|
|
|
| Series 2012C
|
| Amount: | $35 million
|
| Maturity: | June 28, 2022
|
| Coupon: | 3.46%
|
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