By Devika Patel
Knoxville, Tenn., May 29 – South Jersey Industries, Inc. priced a private placement of $200 million senior unsecured in two tranches on May 21, according to an 8-K filed with the Securities and Exchange Commission.
BofA Securities Inc. and PNC Capital Markets LLC are the agents.
The company sold $75 million of 3.71% seven-year series 2020A notes.
There was $125 million of 3.91% 10-year series 2020A notes.
Proceeds will be used to refinance debt and for general corporate purposes.
Folsom, N.J.-based South Jersey is a publicly held energy services holding company for a natural gas utility and other non-regulated companies.
| Issuer: | South Jersey Industries, Inc.
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| Issue: | Senior unsecured notes
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| Amount: | $200 million
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| Agents: | BofA Securities Inc. and PNC Capital Markets LLC
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| Pricing date: | May 27
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| Settlement date: | July 30
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| Distribution: | Private placement
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|
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| Series 2020A
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| Amount: | $75 million
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| Maturity: | July 30, 2027
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| Coupon: | 3.71%
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| Call: | Make-whole call until June 30, 2027, then a par call
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|
|
| Series 2020B notes
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| Amount: | $125 million
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| Maturity: | July 30, 2030
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| Coupon: | 3.91%
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| Call: | Make-whole call until June 30, 2030, then a par call
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