PRICING SUPPLEMENT NO.5 (To prospectus dated October 23, 2001) Rule 424(b)(5)
DATED MARCH 1, 2005 File No. 333-68266
SCANA CORPORATION
Medium-Term Notes
Due Nine Months or More From Date of Issue
Principal Amount: $100,000,000 Original Issue Date: March 8, 2005
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Issue Price: 100 % Maturity Date: March 1, 2008
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Net Proceeds to Company: $99,650,000 x Book-Entry Note
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Certificated Note
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Agent.
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x Principal. Commission: .350%
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Redemption by Company (check one):
No. The Notes are not subject to redemption.
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x Yes. The Notes are subject to redemption as described below under
-------- "Optional Redemption by the Company."
Initial Redemption Date: September 1, 2005
Optional Repayment at Option of Holder (if applicable, check one):
x No. The Notes are not subject to repayment.
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Yes. The Holder may elect repayment as follows:
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Optional Repayment Date(s):
Optional Repayment Price(s):
Provisions:
Interest (check one):
Fixed Rate Note. If this box is checked, the interest rate on the
Notes shall be % per annum.
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x Floating Rate Note. The Initial Interest Rate on the Notes shall be
-------- determined on March 4, 2005 for the Interest
Payment Period commencing March 8, 2005.
The interest rate on the Notes shall be calculated as set
forth in the prospectus dated October 23, 2001 and as
further described below under "Interest Rate," using the
following terms, as applicable:
Base Rate: LIBOR
Index Maturity: 3 Month
Spread: +.15%
Designated LIBOR Page: LIBOR Telerate, page 3750
Interest Payment Period: Quarterly
Interest Payment Dates: 1st day of each June, September, December and
March commencing June 1, 2005(subject to
adjustment as described in the prospectus
dated October 23, 2001)
Interest Reset Period: Quarterly
Interest Reset Dates: Same as Interest Payment Dates
Record Dates: 15 days prior to each Interest Payment Date
Interest Determination
Date: 2 Business Days prior to each Interest Reset
Date
To the extent of any conflict between the terms of the prospectus and this
pricing supplement, this pricing supplement shall govern.
Optional Redemption by the Company
The Notes will be redeemable at the option of the Company, in whole or in
part, upon notice given as described in the prospectus dated October 23, 2001 at
any time and from time to time on or after September 1, 2005, at a redemption
price equal to 100% of the principal amount plus accrued and unpaid interest on
such Notes to the date of redemption.
Notice of Redemption
The Notes will be subject to redemption upon not less than 30 calendar
days prior notice mailed to each holder of Notes to be redeemed at its
registered address by first-class mail. On and after the redemption date,
interest will cease to accrue on the Notes unless the Company defaults in the
payment thereof.
Except as set forth above, the Notes will not be redeemable by the
Company prior to maturity.
Interest Rate
Each Note will bear interest from March 8, 2005 at the rate determined
for each Interest Payment Period, in accordance with the prospectus dated
October 23, 2001 and the terms of this pricing supplement. Interest will be
payable on each Interest Payment Date.
The Notes will bear interest at a floating rate, reset for each
Interest Payment Period, at a per annum rate determined by The Bank of New York
or its successor appointed by the Company, acting as calculation agent, and in
accordance with the procedures described in this pricing supplement and the
prospectus dated October 23, 2001.
Original Issue Date Statement
It is expected that delivery of the Notes will be made against payment
therefor on or about the Original Issue Date which is the fifth business day
following the date of this pricing supplement ("T+5"). Under Rule 15c6-1 of the
Securities and Exchange Commission under the Securities Exchange Act of 1934,
trades in the secondary market generally are required to settle in three
business days unless the parties to any such trade expressly agree otherwise.
Accordingly, purchasers who wish to trade Notes on the date hereof or the next
succeeding business day will be required, by virtue of the fact that the Notes
initially will settle in T + 5, to specify an alternate settlement cycle at the
time of any such trade to prevent a failed settlement and should consult their
own advisor.
Legal Matters
Certain legal matters in connection with the validity of the Notes offered
hereby are being passed upon for the Company by McNair Law Firm, P.A., Columbia,
South Carolina and by Francis P. Mood, Jr., Esq. of Columbia, South Carolina,
who is our Senior Vice President and General Counsel, and for the underwriters
by Troutman Sanders LLP, Richmond, Virginia, which also performs certain legal
services for us and our affiliates on other matters. Troutman Sanders LLP will
rely as to all matters of South Carolina law upon the opinion of Francis P.
Mood, Jr., Esq.
Ratings
As of the date of this pricing supplement, the Notes are rated by the
respective rating agencies as follows: Moody's (A3, negative outlook), Standard
& Poor's (BBB+, stable outlook) and Fitch (A-, stable outlook). The ratings from
rating agencies reflect only the views of such rating agencies and are not
recommendations to buy, sell or hold the Notes, and each rating should be
evaluated independently of any other rating.
Joint Book-Running Managers
UBS Investment Bank Banc of America Securities LLC Wachovia Securities
Co-Manager
BB&T Capital Markets