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Spectra Energy Partners Announces Pricing Of Public Offering Of Common Units

HOUSTON, April 3, 2013 /PRNewswire/ -- Spectra Energy Partners, LP (NYSE: SEP) (the "Partnership") today announced the pricing of its underwritten public offering of 4,500,000 of its common units representing limited partner interests. The offering was priced at $37.25 per common unit.

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

Barclays Capital Inc. is acting as the sole book-running manager of the offering. The Partnership has also granted Barclays Capital Inc. a 30-day option to purchase up to 675,000 additional common units. The offering is expected to close on April 8, 2013, subject to customary closing conditions.

Spectra Energy Partners expects to receive net proceeds from the offering of approximately $168 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 from the offering for funding capital expenditures and acquisitions. Pending such use, the net proceeds of the offering will be held as cash or invested in short term securities, or a combination of both.

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 accompanying base prospectus related to the offering may be obtained by contacting Barclays Capital Inc. by mail at c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 888-603-5847, or by e-mail: barclaysprospectus@broadridge.com.

An electronic copy of the preliminary prospectus supplement and the accompanying base prospectus are available from the Securities and Exchange Commission's (SEC) website at http://www.sec.gov.  

The common units are being offered pursuant to an effective shelf registration statement that the Partnership previously filed with the SEC.

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