Prudential Capital provides $160M to Scana unit

By Associated Press
June 18, 2008
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Prudential Capital Group said Wednesday it provided $160 million of senior secured notes to South Carolina Generating Co. Inc., which will use the money for environmental upgrades.

Prudential Capital, a private capital institutional investment business of financial services company Prudential Financial Inc., provided the money in two $80 million senior tranches with a 10-year maturity.

South Carolina Generating is a wholly owned subsidiary of Scana Corp., which owns electric and natural gas utility companies and other energy-related businesses.

In morning trading, shares of Prudential fell 73 cents to $68.65, and shares of Scana fell 48 cents to $39.35.
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