logo
Share SHARE
FONT-SIZE Plus   Neg

Spectra Energy Completes Stock Offering

Spectra Energy Corp (SE) said Monday that its previously announced public offering of 12.8 million shares of its common stock priced at $26.75 per share has closed.

In addition, the underwriters elected to exercise in full their option to acquire an additional 1.92 million shares of the company's common stock.

The company plans to use the net proceeds from the offering to fund acquisitions, capital expenditures and for other general corporate purposes, which may include funding a portion of the purchase price for the Express-Platte Pipeline System.

Pending the use of proceeds for such purposes, the company expects to use the net proceeds to repay commercial paper as it matures or invest them temporarily in short-term marketable securities.

BofA Merrill Lynch, Barclays and UBS Investment Bank acted as joint book-running managers for the offering. Citi and J.P. Morgan acted as co-managers for the offering.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
French aircraft maker Dassault Aviation SA said Wednesday that following repeated delays, it has terminated a contract with French defense company Safran for its Silvercrest engine that was intended to power Dassault's Falcon 5X business jet. Walt Disney Co. has agreed to buy certain assets of Rupert Murdoch's Twenty-First Century Fox, Inc. for about $52.4 billion in stock, the two companies said Thursday. Immediately prior to the acquisition by Disney, 21st Century Fox will separate the Fox Broadcasting network, Fox News Channel, Fox Business Network, FS1, FS2 and Big Ten Network into a newly listed company that will be spun off. Crypto Co., engaged in the digital currencies and blockchain sector, announced its plans to execute a 10-for-1 stock split, citing the significant growth in the value and demand for its shares amid the ongoing digital currency market boost. CEO Mike Poutre said, ""We are aware of the recent fluctuation in our stock, and want to see orderly market activity surrounding the trading of our stock."
comments powered by Disqus
Follow RTT