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Spectra Energy Announces Closing Of Common Stock Public Offering And Exercise In Full Of Underwriters' Option

HOUSTON, Dec. 17, 2012 /PRNewswire/ -- Spectra Energy Corp (NYSE: SE) announced today that its previously announced public offering of 12,800,000 shares of its common stock priced at $26.75 per share has closed. In addition, the underwriters elected to exercise in full their option to acquire an additional 1,920,000 shares of the company's common stock. The company intends to use the net proceeds from the offering to fund acquisitions, capital expenditures and for other general corporate purposes, which may include funding a portion of the purchase price for the Express-Platte Pipeline System. Pending the use of proceeds for such purposes, the company expects to use the net proceeds to repay commercial paper as it matures or invest them temporarily in short-term marketable securities.

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BofA Merrill Lynch, Barclays and UBS Investment Bank acted as joint book-running managers for the offering. Citi and J.P. Morgan acted as co-managers for the offering.

The offering is being made only by means of a prospectus and related prospectus supplement, copies of which may be obtained from BofA Merrill Lynch, Attn: Prospectus Department, at 222 Broadway, New York, NY 10038 or by email at; or from Barclays, Attn: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone toll free at (888) 603-5847 or by email at; or from UBS Securities LLC, Attn: Prospectus Department, at 299 Park Avenue, New York, NY 10171, or by telephone toll free at (888) 827-7275. An electronic copy of the prospectus supplement and the accompanying base prospectus is available from the website of the Securities and Exchange Commission (SEC) at

The common stock was offered pursuant to an effective shelf registration statement that Spectra Energy previously filed with the SEC. This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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