Spectra begins public offering of common stock

Spectra Energy Corp. (NYSE: SE) has begun 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.

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