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Spectra Energy Partners Announces Pricing Of Public Offering Of Common Units

Stocks in this article: SESEP





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.

(Logo: http://photos.prnewswire.com/prnh/20071107/CLW064 )

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: cmclientsupport@wellsfargo.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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