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
So far this year, 23 novel drugs have already received FDA approval. Now let's take a look at the biotech stocks waiting to hear from the FDA in July. President Donald Trump has continued his assault on one of his favorite targets on Wednesday, lashing out at major media outlets in a series of posts on Twitter. Trump singled out the New York Times and the Washington Post in his tweets, describing the newspapers as "fake news." Christoph, born on-board a Spirit flight destined to Dallas from Fort Lauderdale airport, can celebrate all his forthcoming birthdays in life with a free travel on Spirit airline.
comments powered by Disqus
Follow RTT