Spectra Energy Corp. - 2016-04-04

Through an agreement with Spectra Energy Partners LP, Spectra Energy Corp. will acquire about 9.1 million common units representing limited partner interests in Spectra Energy Partners. Units were priced at $45.96 each in a private placement, and Spectra will also purchase 1.4 million additional units if there will be a 25-day underwriter’s option. Spectra Energy Partners will have about 296 million outstanding units when the private placement is completed. Transaction will be funded through issuance of 14 million shares priced at $30 each for expected proceeds of about $420 million.