HOUSTON, Nov. 14, 2012 /PRNewswire/ -- Spectra Energy Partners, LP (NYSE: SEP) (the "Partnership") announced today that its public offering of 4,750,000 common units was priced at $27.60 per unit to the public. The Partnership expects the delivery of the units to occur on November 19, 2012. In addition, the underwriters have an overallotment option to purchase up to approximately 712,500 additional common units.
Assuming no exercise of the overallotment option, Spectra Energy Partners expects to receive net proceeds from the offering of approximately $128.7 million, after deducting the underwriting discount and estimated offering expenses payable by the Partnership, and including a capital contribution from its general partner to maintain its proportionate 2 percent interest in the Partnership. The Partnership intends to use the net proceeds, as well as the net proceeds from any exercise of the underwriters' over-allotment option, for funding capital expenditures and acquisitions. Pending such use, the net proceeds of this offering will be held as cash or invested in short-term securities, or a combination of both.Wells Fargo Securities, Citigroup, Deutsche Bank Securities, UBS Investment Bank, and Credit Suisse acted as joint book running managers for the offering. The offering is being made only by means of a prospectus supplement and accompanying base prospectus. A copy of the prospectus supplement, when available, and the accompanying base prospectus for the offering may be obtained from: Wells Fargo Securities Attn: Equity Syndicate Dept. 375 Park Avenue New York, New York 10152 Telephone: 800-326-5897 Email: email@example.com Citigroup c/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, NY 11717 Telephone: 800-831-9146 Deutsche Bank Securities Attn.: Prospectus Group 60 Wall Street New York, NY 10005-2836 Email: prospectus.CPDG@db.com Telephone: 800-503-4611 UBS Investment Bank Attn: Prospectus Department 299 Park Avenue New York, New York 10171 Telephone: 888-827-7275 Credit Suisse Prospectus Department One Madison Avenue New York, NY 10010-3629, USA Telephone: 1-800-221-1037 An electronic copy of the prospectus supplement and the accompanying base prospectus will be available from the Securities and Exchange Commission's (SEC) Web site at http://www.sec.gov. The common units are being offered pursuant to an effective shelf registration statement the Partnership previously filed with the SEC.
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