Spectra Energy Partners LP Announces Pricing Of $1.9 Billion Of Senior Notes

Monday, 16 Sep 2013 05:45pm EDT 

Spectra Energy Partners LP announced that it has priced an offering of $1.9 billion aggregate principal amount of senior notes, including $500 million 2.95% senior notes due 2018, $1.0 billion 4.75% senior notes due 2024, and $400 million 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. 

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