Spectra Energy Partners, LP (SEP) said Tuesday that it has commenced an underwritten public offering of 4.5 million of its common units representing limited partner interests.
The Partnership also plans to grant Barclays Capital Inc. a 30-day option to purchase up to 675,000 additional common units.
The Partnership said it plans to use the net proceeds from the offering for funding capital expenditures and acquisitions. Pending such use, the net proceeds of the offering will be held as cash or invested in short term securities, or a combination of both.
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