Spectra Energy to redeem 8% notes due 2019

New York, Aug. 9 – Spectra Energy Capital, LLC will redeem its outstanding 8% senior notes due Oct. 1, 2019 on Sept. 8, according to a notice from the issuer.

Holders will receive par plus a make-whole payment calculated using a discount rate of Treasuries plus 25 basis points plus accrued interest.

In June and July, Spectra Energy conducted a tender offer for the 8% notes in which it purchased $267,344,000 of the $500 million previously outstanding of the securities.

It also tendered for $600 million of six further series of its notes and then raised the cap to $760,927,000.

Spectra Energy is a subsidiary of Enbridge Inc., a Calgary, Alta., energy infrastructure company.

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