HOUSTON, April 4, 2016 /PRNewswire/ -- Spectra Energy
Corp (NYSE: SE) today announced the commencement of an underwritten
public offering of 14 million shares of its common stock. Barclays
Capital Inc. is acting as the sole underwriter for the offering. In
addition, Spectra Energy intends to grant Barclays Capital Inc. a
25-day option to purchase up to 2.1 million shares of its common
stock.
Spectra Energy expects to use the net proceeds from this
offering to purchase additional common units from Spectra Energy
Partners, LP (NYSE: SEP) in a private placement.
The offering is being made only by means of a prospectus and
related prospectus supplement, copies of which may be obtained by
contacting Barclays Capital Inc. by mail at c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by e-mail at
Barclaysprospectus@broadridge.com or by telephone at (888)
603-5847.
An electronic copy of the preliminary prospectus supplement and
the accompanying prospectus are available from the Securities and
Exchange Commission's web site at www.sec.gov.
The shares are being offered pursuant to an effective shelf
registration statement that Spectra Energy previously filed with
the Securities and Exchange Commission. This press
release does not constitute an offer to sell or the solicitation of
an offer to buy any securities, nor shall there be any sale of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such jurisdictions.
About Spectra Energy
Spectra Energy Corp (NYSE: SE), a
FORTUNE 500 company, is one of North
America's leading pipeline and midstream companies. Based in
Houston, Texas, the company's
operations in the United States
and Canada include more than
21,000 miles of natural gas, natural gas liquids, and crude oil
pipelines; approximately 300 billion cubic feet (Bcf) of natural
gas storage; 4.8 million barrels of crude oil storage; as well as
natural gas gathering, processing, and local distribution
operations. Spectra Energy is the general partner of Spectra Energy
Partners (NYSE: SEP), one of the largest pipeline master limited
partnerships in the United States
and owner of the natural gas and crude oil assets in Spectra
Energy's U.S. portfolio. Spectra Energy also has a 50 percent
ownership in DCP Midstream, the largest producer of natural gas
liquids and the largest natural gas processor in the United States. Spectra Energy has served
North American customers and communities for more than a
century.
Forward-Looking Statements
This release 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 represent our
intentions, plans, expectations, assumptions and beliefs about
future events. 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 are subject to risks, uncertainties and other factors,
many of which are outside our control and could cause actual
results to differ materially from the results expressed or implied
by those forward-looking statements. Factors used to develop these
forward-looking statements and that could cause actual results to
differ materially from those indicated in any forward-looking
statement include, but are not limited to: state, provincial,
federal and foreign 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 and oil 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 commodity prices, interest
rates and foreign currency exchange 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 oil and related services;
potential effects arising from terrorist attacks and any
consequential or other hostilities; changes in environmental,
safety and other laws and regulations; the development of
alternative energy resources; 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; declines in the market prices of equity and debt
securities and resulting funding requirements for defined benefit
pension plans; growth in opportunities, including the timing and
success of efforts to develop United
States and Canadian pipeline, storage, gathering, processing
and other related infrastructure projects and the effects of
competition; the performance of natural gas and oil transmission
and storage, distribution, and gathering and processing facilities;
the extent of success in connecting natural gas and oil supplies to
gathering, processing and transmission systems and in connecting to
expanding gas and oil markets; the effects of accounting
pronouncements issued periodically by accounting standard-setting
bodies; conditions of the capital markets during the periods
covered by forward-looking statements; 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.
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SOURCE Spectra Energy Corp