By Andrea Heisinger
Omaha, April 7 - Spectra Energy Capital, LLC priced $500 million of 6.2% 10-year senior notes Monday to yield Treasuries plus 265 basis points, according to market sources and an FWP filing with the Securities and Exchange Commission.
The notes (Baa1/BBB/BBB) priced at 99.822 to yield 6.224%. They have a make-whole redemption option of Treasuries plus 40 bps.
Bookrunners were Banc of America Securities LLC, Deutsche Bank Securities Inc. and RBS Greenwich Capital.
Co-managers were Barclays Capital Inc., KeyBanc Capital Markets, Lazard Capital Markets and UBS Securities.
Proceeds will be used to fund capital expenditures and for general corporate purposes, including repayment of commercial paper as it matures.
The natural gas company is based in Houston.
| Issuer: | Spectra Energy Capital, LLC
|
| Issue: | Senior notes
|
| Amount: | $500 million
|
| Maturity: | April 15, 2018
|
| Bookrunners: | Banc of America Securities LLC, Deutsche Bank Securities Inc., RBS Greenwich Capital
|
| Co-managers: | Barclays Capital Inc., KeyBanc Capital Markets, Lazard Capital Markets and UBS Securities
|
| Coupon: | 6.2%
|
| Price: | 99.822
|
| Yield: | 6.224%
|
| Spread: | Treasuries plus 265 bps
|
| Call: | Make-whole at Treasuries plus 40 bps
|
| Trade date: | April 7
|
| Settlement date: | April 10
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB
|
| Fitch: BBB
|
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