SC Electric & Gas has sold, $700 million of its first mortgage bonds. The sale consisted of:

• $300 million on which it will pay 3.5% interest due August 15, 2021.

• $400 million at 4.25% interest due in 2028. SCE&G intends to use the money to pay off $550 million in debt due Nov. 1. SCE&G officials said they may apply the rest to repay other short-term debt and for corporate purposes. The $700 million in new bonds will allow SCE&G more time to pay off its debts but also may increase the interest it must pay. – Jerry Bellune