Spectra Energy Prices Offering Of $1.9 Bln Senior Notes

(RTTNews) - Spectra Energy Partners LP (SEP) Monday said 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.