Sept. 16, 2013
/PRNewswire/ -- Spectra Energy Partners, LP (NYSE:SEP) (the "Partnership") today announced that it has priced an offering of
aggregate principal amount of senior notes, including
2.95% senior notes due 2018,
4.75% senior notes due 2024, and
5.95% senior notes due 2043, at a price to the public of 99.829%, 99.765%, and 99.875% of their face value, respectively. The offering of the senior notes is expected to close on
September 25, 2013
, subject to customary closing conditions.
Net proceeds from the offering are expected to be used to pay a portion of the cash consideration for Spectra Energy Corp's drop-down of its remaining U.S. transmission, storage, and liquids assets to the Partnership. The closing of substantially all of the drop-down transactions is expected to occur during the fourth quarter of 2013.
The senior notes are being offered pursuant to an effective shelf registration statement the Partnership previously filed with the Securities and Exchange Commission (SEC).
Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, and RBC Capital Markets, LLC are acting as the representatives of the underwriters for the offering. The offering is being made only by means of a prospectus supplement and accompanying base prospectus. A copy of the preliminary prospectus supplement and the accompanying base prospectus for the offering may be obtained from: Morgan Stanley & Co. LLC at 1-866-718-1649, J.P. Morgan Securities LLC at 1-212-834-4533, Merrill Lynch, Pierce, Fenner & Smith Incorporated at 1-800-294-1322, and RBC Capital Markets, LLC at 1-866-375-6829.
An electronic copy of the preliminary prospectus supplement and the accompanying base prospectus are available from the SEC's Web site at
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.