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BRIEF-Santee Cooper approves monetization of Toshiba Guaranty‍​
September 27, 2017 / 3:05 PM / 3 months ago

BRIEF-Santee Cooper approves monetization of Toshiba Guaranty‍​

Sept 27 (Reuters) - Santee Cooper:

* Santee Cooper approves monetization of Toshiba Guaranty‍​

* ‍Santee Cooper - Board approved assignment, purchase agreement to sell monetary rights of portion of $2.168 billion Toshiba Guaranty settlement claim​

* Santee Cooper - Agreement pays 91.5 percent of settlement claim, Santee Cooper will receive $831.2 million for its 45 percent share‍​

* Santee Cooper says the assignment and purchase agreement with Citibank n.a does not include the first-scheduled payment from Toshiba of $150 million‍​

* Santee Cooper says Santee cooper’s 45 percent share of the first payment from Toshiba, scheduled for october 2017, is $67.5 million

* ‍Santee Cooper - Santee Cooper received 13 initial bids from five broker-dealers and eight investment management firms Further company coverage:

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