LONG-TERM DEBT:

Outstanding Long-Term Debt at December 31 consisted of the following:



		2012			2011
Long-Term Debt (A):
South Jersey Gas Company:
First Mortgage Bonds: (B)

4.46%	Series due 2013	$	10,500		$	10,500
5.027%	Series due 2013	14,500			14,500
4.52%	Series due 2014	11,000			11,000
5.115%	Series due 2014	10,000			10,000
5.387%	Series due 2015	10,000			10,000
5.437%	Series due 2016	10,000			10,000
4.6%	Series due 2016	17,000			17,000
4.657%	Series due 2017	15,000			15,000
7.97%	Series due 2018	10,000			10,000
7.125%	Series due 2018	20,000			20,000
5.587%	Series due 2019	10,000			10,000
3.00%	Series due 2024 (C)	50,000			—
3.03%	Series due 2024 (C)	35,000			—
3.63%	Series due 2025	10,000			10,000
4.84%	Series due 2026	15,000			15,000
4.93%	Series due 2026	45,000			45,000
4.03%	Series due 2027	45,000			45,000
7.7%	Series due 2027 (D)	—			35,000
3.74%	Series due 2032 (D)	35,000			—
5.55%	Series due 2033	32,000			32,000
6.213%	Series due 2034	10,000			10,000
5.45%	Series due 2035	10,000			10,000

Series A 2006 Bonds at variable rates due 2036 (E)		25,000			25,000

Marina Energy LLC: (F)
Series A 2001 Bonds at variable rates due 2031		20,000			20,000
Series B 2001 Bonds at variable rates due 2021		25,000			25,000
Series A 2006 Bonds at variable rates due 2036		16,400			16,400

South Jersey Industries (G)
2.39%	Series A 2012 Notes due 2015	64,000			—
2.71%	Series B 2012 Notes due 2017	16,000			—
3.46%	Series C 2012 Notes due 2022	35,000			—

Total Long-Term Debt Outstanding		626,400			426,400
Less Current Maturities		(25,000		)	(2,187		)

Total Long-Term Debt		$	601,400		$	424,213


(A)	Long-term debt maturities and sinking funds requirements for the succeeding five years are as follows (in thousands): 2013, $25,000; 2014, $21,000; 2015, $74,909; 2016, $27,909; 2017, $31,909.


(B)	The First Mortgage dated October 1, 1947, as supplemented, securing the First Mortgage Bonds constitutes a direct first mortgage lien on substantially all utility plant.


(C)	In September 2012, SJG issued $50.0 million of 3.00% aggregate principal amount of MTN's due September 2024. In November 2012, SJG issued $35.0 million of 3.03% aggregate principal amount of MTN's due November 2024.


(D)	In February 2012, SJG called its $35.0 million, 7.70% MTN's due April 2027 at par plus a 2.0% premium. The early redemption occurred concurrently with the issuance in April 2012 of $35.0 million, 3.74% Series D MTN's due April 2032.


(E)	These variable rate demand bonds bear interest at a floating rate that resets weekly. The interest rate as of December 31, 2012 was 0.17%. Liquidity support on these bonds is provided under a separate letter of credit facility that expires in August, 2015. These bonds contain no financial covenants.

(F)

Marina has issued $61.4 million of unsecured variable-rate revenue bonds through the New Jersey Economic Development Authority (NJEDA). The variable rates at December 31, 2012 for the Series A 2001, Series B 2001, and Series A 2006 bonds were 0.14%, 0.24% and 0.14% respectively. The interest rate on all but $27.1 million of the bonds has been effectively fixed via interest rate swaps at 4.41% until January 2026. These bonds contain no financial covenants. Liquidity support on these bonds is provided under a letter of credit facility from a commercial bank that expires in August, 2015.


(G)	In June 2012, the Company issued $115.0 million aggregate principal amount of long-term debt, consisting of the following: (a) $64.0 million aggregate principal amount of 2.39% Senior Notes due June 2015; (b) $16.0 million aggregate principal amount of 2.71% Senior Notes due June 2017; and (c) $35.0 million aggregate principal amount of 3.46% Senior Notes due June 2022.

In December 2011, SJG received approval from the BPU to issue up to $200.0 million in long-term debt under its MTN program by September 2014. At December 31, 2012, $80.0 million was available under this program.