HOUSTON, Nov. 13, 2012 /PRNewswire/ -- Spectra Energy Partners, LP (NYSE: SEP) (the "Partnership") today announced 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.
Wells Fargo Securities, Citigroup, Deutsche Bank Securities, UBS Investment Bank, and Credit Suisse will act as joint book running managers for the offering. The offering is being made only by means of a prospectus supplement and accompanying base prospectus. A copy of the preliminary prospectus supplement and the accompanying base prospectus for the offering may be obtained from:
Wells Fargo Securities
Attn: Equity Syndicate Dept.
375 Park Avenue
New York, New York 10152
Email: [email protected]
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Deutsche Bank Securities
Attn.: Prospectus Group
60 Wall Street
New York, NY 10005-2836
Email: [email protected]
UBS Investment Bank
Attn: Prospectus Department
299 Park Avenue
New York, New York 10171
One Madison Avenue
New York, NY 10010-3629, USA
An electronic copy of the preliminary prospectus supplement and the accompanying base prospectus are available from the Securities and Exchange Commission's (SEC) Web site at http://www.sec.gov.
The common units are being offered pursuant to an effective shelf registration statement the Partnership previously filed with the SEC.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
This document includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on our beliefs and assumptions. These forward-looking statements are identified by terms and phrases such as: anticipate, believe, intend, estimate, expect, continue, should, could, may, plan, project, predict, will, potential, forecast, and similar expressions. Forward-looking statements involve risks and uncertainties that may cause actual results to be materially different from the results predicted. Factors that could cause actual results to differ materially from those indicated in any forward-looking statement include, but are not limited to: state and federal legislative and regulatory initiatives that affect cost and investment recovery, have an effect on rate structure, and affect the speed at and degree to which competition enters the natural gas industries; outcomes of litigation and regulatory investigations, proceedings or inquiries; weather and other natural phenomena, including the economic, operational and other effects of hurricanes and storms; the timing and extent of changes in interest rates; general economic conditions, including the risk of a prolonged economic slowdown or decline, or the risk of delay in a recovery, which can affect the long-term demand for natural gas and related services; potential effects arising from terrorist attacks and any consequential or other hostilities; changes in environmental, safety and other laws and regulations; results and costs of financing efforts, including the ability to obtain financing on favorable terms, which can be affected by various factors, including credit ratings and general market and economic conditions; increases in the cost of goods and services required to complete capital projects; growth in opportunities, including the timing and success of efforts to develop domestic pipeline, storage, gathering and other infrastructure projects and the effects of competition; the performance of natural gas transmission, storage and gathering facilities; the extent of success in connecting natural gas supplies to transmission and gathering systems and in connecting to expanding gas markets; the effect of accounting pronouncements issued periodically by accounting standard-setting bodies; conditions of the capital markets during the periods covered by the forward-looking statements; and the ability to successfully complete merger, acquisition or divestiture plans; regulatory or other limitations imposed as a result of a merger, acquisition or divestiture; and the success of the business following a merger, acquisition or divestiture. These factors, as well as additional factors that could affect our forward-looking statements, are described in our filings that we make with the Securities and Exchange Commission (SEC), which are available via the SEC's Web site at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than we have described. All forward-looking statements in this release are made as of the date hereof and we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Spectra Energy Partners, LP