Key Developments: Spectra Energy Partners LP (SEP.N)
43.56USD
2 Aug 2013
$-0.85 (-1.91%)
$44.41
$44.40
$44.40
$43.50
2,446
61,525
$47.58
$27.15
Latest Key Developments (Source: Significant Developments)
Spectra Energy Partners LP Announces Consecutive Quarterly Cash Distribution Increase
Spectra Energy Partners LP announced that the board of directors of its general partner declared a quarterly cash distribution to unitholders of $0.50875 per unit, an increase of three-quarters cent over the previous level of $0.50125 per unit. The cash distribution is payable on August 14, 2013, to unitholders of record at the close of business on August 5, 2013. Full Article
Spectra Energy Partners LP Announces Plans To Establish Common Unit Continuous Offering Program
Spectra Energy Partners LP announced that it plans to establish a continuous offering program under which the Partnership may issue and sell from time to time through a sales agent up to $200 million of common units representing limited partner interests in the Partnership. The Partnership expects to initiate this program in the second quarter of 2013 and intends to use the net proceeds from the offering to fund 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. Full Article
Spectra Energy Partners LP Announces Quarterly Cash Distribution
Spectra Energy Partners LP announced that the board of directors of its general partner declared a quarterly cash distribution to unitholders of $0.50125 per unit, an increase of five-eighths cent over the previous level of $0.495 per unit. The cash distribution is payable on May 15, 2013, to unitholders of record at the close of business on May 9, 2013. This quarterly cash distribution equates to $2.005 per unit on an annual basis. Full Article
Spectra Energy Partners LP Announces Pricing Of Public Offering Of Common Units
Spectra Energy Partners LP announced the pricing of underwritten public offering of 4,500,000 of common units representing limited partner interests. The offering was priced at $37.25 per common unit. 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. 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 general partner to maintain proportionate 2% 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. Full Article
Spectra Energy Partners LP Announces Commencement Of Public Offering Of Common Units
Spectra Energy Partners LP announced it has commenced an underwritten public offering of 4,500,000 of its common units representing limited partner interests. Barclays Capital Inc. is acting as the sole book-running manager of the offering. The Partnership also intends to grant Barclays Capital Inc. a 30-day option to purchase up to 675,000 additional common units. 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. Full Article
Spectra Energy Partners LP Announces Management Changes
Spectra Energy Partners LP announced that Pat Reddy, Chief Financial Officer (CFO) of Spectra Energy, will assume the CFO responsibilities for Spectra Energy Partners as well. Laura Sayavedra, previously CFO of Spectra Energy Partners, has been named vice president of strategy for Spectra Energy. In her new role, Sayavedra will be responsible for providing leadership in setting Spectra Energy's long-term strategy. Full Article
Spectra Energy Partners LP Increases Quarterly Cash Distribution
Spectra Energy Partners LP announced that the board of directors of its general partner declared a quarterly cash distribution to unitholders of $0.495 per unit, an increase of one-half cent over the previous level of $0.49 per unit. The cash distribution is payable on February 14, 2013, to unitholders of record at the close of business on February 7, 2013. This quarterly cash distribution equates to $1.98 per unit on an annual basis. Full Article
Spectra Energy Partners LP Announces Closing of Common Unit Offering and Exercise of Over-Allotment Option
Spectra Energy Partners LP announced that its previously announced public offering of 4,750,000 common units priced at $27.60 per unit has closed. In addition, the underwriters elected to exercise the full over-allotment option of 712,500 common units, which are expected to be delivered on November 21, 2012. The Partnership intends to use the net proceeds from the offering 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. Full Article
Spectra Energy Partners LP Announces Pricing Of Public Offering Of Common Units
Spectra Energy Partners LP announced that the 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 general partner to maintain proportionate 2% 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. Full Article
Spectra Energy Partners LP Announces Commencement Of Public Offering Of Common Units
Spectra Energy Partners LP announced that it has commenced, subject to market conditions, an underwritten public offering of approximately 4,750,000 of its common units representing limited partner interests. The Partnership also intends to grant the underwriters a 30-day option to purchase up to approximately 712,500 additional common units. 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. Full Article
BRIEF-Spectra Energy to drop down 50 pct of Express-Platte Pipeline system to Spectra Energy Partners
May 2 - Spectra Energy Corp : * To drop down 50 percent of the express-platte pipeline system to Spectra

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