Spectra Energy planning to price two-part offering of senior notes

By Devika Patel

Knoxville, Tenn., Oct. 5 – Spectra Energy Partners LP is planning to price a two-part offering of senior notes, according to a 424B2 filing with the Securities and Exchange Commission.

The sale includes an offering of fixed-rate notes as well as an add-on to the company’s 4.5% notes due March 15, 2045. The company sold $500 million of the 4.5% notes on March 12, 2015.

The notes have a make-whole call, with the 4.5% notes callable at Treasuries plus 25 basis points until six months prior to maturity, and then callable at par.

J.P. Morgan Securities LLC, BofA Merrill Lynch, Mizuho Securities USA Inc., Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc., MUFG, SMBC Nikko, SunTrust Robinson Humphrey Inc. and Wells Fargo Securities LLC are the bookrunners.

Proceeds will be used to repay some commercial paper, for capital expenditures and general partnership purposes.

The natural gas transmission and production company is based in Houston.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.