Burr & Forman served as bond counsel to Santee Cooper, South Carolina’s largest power provider and the source of electricity for two million people across the state, in the sale of $1.3 billion in bonds.

The sale was approved by the Santee Cooper Board of Directors on July 24, 2024, and will result in a gross savings for customers of $180 million through 2054. It will also help finance capital needs on the Santee Cooper system related to transmission, generation and distribution improvements, and environmental and regulatory compliance.

Led by Rion Foley, the Burr & Forman team representing Santee Cooper also includes Jeff Allen.

“Santee Cooper’s bond sale ensures that infrastructure is ready to meet growth demands in South Carolina and produce benefits for its customers, investors, and other stakeholders,” said Foley. “We proudly represent the agency and appreciate the opportunity to help secure reliable power for the future in South Carolina.”

Originally intending to borrow $900 million, overwhelming investor demand elevated the total to more than $1.3 billion.

Specifically, the Board approved:

• $372 million 2024 Tax-Exempt Improvement Series A
• $865 million 2024 Tax-Exempt Refunding Series B
• $73 million 2024 Taxable Improvement Series C

More information on the transaction is available here.