HOUSTON, April 30, 2018 /PRNewswire/ - Sabal Trail
Transmission, LLC ("Sabal Trail") announced today the closing of
its $1.5 billion offering (the
"Offering") of senior notes.
Sabal Trail is a joint venture comprised of Spectra Energy
Partners, LP (NYSE: SEP) owning 50%, NextEra Energy, Inc. owning
42.5% and Duke Energy owning 7.5% (collectively the "Owners").
Sabal Trail is an approximately 517-mile interstate natural gas
pipeline that will have the capacity to deliver approximately 1.1
billion cubic feet per day to the Southeast U.S., including firm
transportation to meet the power generation needs of Florida Power & Light and Duke Energy of
Florida, once approved future compression expansions occur.
The notes were issued in three tranches as follows
(collectively, the "Notes"): $500
million principal amount of 4.246% senior notes due 2028,
$600 million principal amount of
4.682% senior notes due 2038, and $400
million principal amount of 4.832% senior notes due
2048.
Sabal Trail intends to use the net proceeds from the Offering to
make proportional distributions to the Owners with respect to
construction and development costs previously incurred by the
Owners.
The Notes were offered and sold only to qualified institutional
buyers in accordance with the exemption from registration provided
by Rule 144A under the Securities Act of 1933, as amended (the
"Securities Act"). The Notes have not been registered under the
Securities Act or applicable state securities laws. The Notes may
not be offered or sold in the United
States absent registration or an applicable exemption from
such registration requirements.
This press release is for informational purposes only and does
not constitute an offer to sell or a solicitation of an offer to
buy the Notes described in this press release, nor shall there be
any sale of the Notes in any state or jurisdiction in which such an
offer, sale or solicitation would be unlawful prior to registration
or qualification under the securities laws of such state or
jurisdiction.
For more information on Sabal Trail, visit
www.sabaltrail.com.
Forward-Looking Statements
This release includes "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Forward-looking
statements are based on our beliefs and assumptions. These
forward-looking statements are identified by terms and phrases such
as: anticipate, believe, intend, estimate, expect, continue,
should, could, may, plan, project, predict, will, potential,
forecast, and similar expressions. Forward-looking statements
involve risks and uncertainties that may cause actual results to be
materially different from the results predicted. Factors that could
cause actual results to differ materially from those indicated in
any forward-looking statement include, but are not limited to:
state, federal and foreign legislative and regulatory initiatives
that affect cost and investment recovery, have an effect on rate
structure, and affect the speed at and degree to which
competition enters the natural gas and oil industries; outcomes of
litigation and regulatory investigations, proceedings or inquiries;
weather and other natural phenomena, including the economic,
operational and other effects of hurricanes and storms; the timing
and extent of changes in commodity prices, interest rates and
foreign currency exchange rates; general economic conditions,
including the risk of a prolonged economic slowdown or decline, or
the risk of delay in a recovery, which can affect the long-term
demand for natural gas and oil and related services; potential
effects arising from terrorist attacks and any consequential or
other hostilities; changes in environmental, safety and other laws
and regulations; the development of alternative energy resources;
results and costs of financing efforts, including the ability to
obtain financing on favorable terms, which can be affected by
various factors, including credit ratings and general market and
economic conditions; increases in the cost of goods and services
required to complete capital projects; declines in the market
prices of equity and debt securities and resulting funding
requirements for defined benefit pension plans; growth in
opportunities, including the timing and success of efforts to
develop U.S. and Canadian pipeline, storage, gathering, processing
and other related infrastructure projects and the effects of
competition; the performance of natural gas and oil transmission
and storage, distribution, and gathering and processing facilities;
the extent of success in connecting natural gas and oil supplies to
gathering, processing and transmission systems and in connecting to
expanding gas and oil markets; the effects of accounting
pronouncements issued periodically by accounting standard-setting
bodies; conditions of the capital markets during the periods
covered by forward-looking statements; and the ability to
successfully complete merger, acquisition or divestiture plans;
regulatory or other limitations imposed as a result of a merger,
acquisition or divestiture; and the success of the business
following a merger, acquisition or divestiture. These factors, as
well as additional factors that could affect our forward-looking
statements, are described under the headings "Risk Factors" and
"Cautionary Statement Regarding Forward-Looking Information" in our
2017 Form 10-K, filed on February 15,
2018, and in our other filings made with the Securities and
Exchange Commission (SEC), which are available via the SEC's
website at www.sec.gov. In light of these risks, uncertainties and
assumptions, the events described in the forward-looking statements
might not occur or might occur to a different extent or at a
different time than we have described. All forward-looking
statements in this release are made as of the date hereof and we
undertake no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Spectra Energy Partners
Spectra Energy Partners, LP is one of the largest pipeline
master limited partnerships in the United States and
connects growing supply areas to high-demand markets for natural
gas and crude oil. These assets include more than 16,000 miles of
transmission pipelines, approximately 170 billion cubic feet of
natural gas storage, and approximately 5.6 million barrels of crude
oil storage. Spectra Energy Partners, LP is traded on the New
York Stock Exchange under the symbol SEP; information about
the company is available on its website
at www.spectraenergypartners.com.
NextEra Energy
NextEra Energy, Inc. (NYSE: NEE) is a leading clean energy
company with consolidated revenues of approximately $17.2 billion, operates approximately 46,790
megawatts of net generating capacity and employs approximately
14,000 people in 33 states and Canada as of year-end 2017. Headquartered in
Juno Beach, Florida, NextEra
Energy's principal subsidiaries are Florida
Power & Light Company, which serves approximately 5
million customer accounts in Florida and is one of the largest
rate-regulated electric utilities in the
United States, and NextEra Energy Resources, LLC, which,
together with its affiliated entities, is the world's largest
operator of renewable energy from the wind and sun. Through its
subsidiaries, NextEra Energy generates clean, emissions-free
electricity from eight commercial nuclear power units in
Florida, New Hampshire, Iowa and Wisconsin. A Fortune 200 company and included
in the S&P 100 index, NextEra Energy has been recognized often
by third parties for its efforts in sustainability, corporate
responsibility, ethics and compliance, and diversity, and has been
ranked No. 1 in the electric and gas utilities industry in
Fortune's 2018 list of "World's Most Admired Companies." For more
information about NextEra Energy companies, visit these websites:
www.NextEraEnergy.com, www.FPL.com,
www.NextEraEnergyResources.com.
Duke Energy
Headquartered in Charlotte,
N.C., Duke Energy is one of the largest energy holding
companies in the United States.
Its Electric Utilities and Infrastructure business unit serves
approximately 7.5 million customers located in six states in the
Southeast and Midwest. The company's Gas Utilities and
Infrastructure business unit distributes natural gas to
approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business
unit operates a growing renewable energy portfolio across
the United States.
Duke Energy is a Fortune 125 company traded on the New York
Stock Exchange under the symbol DUK. More information about the
company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for
journalists and features news releases, helpful links, photos and
videos. Hosted by Duke Energy, illumination is an online
destination for stories about people, innovations, and community
and environmental topics. It also offers glimpses into the past and
insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and
Facebook.
Media:
Andrea
Grover
(888) 215-6683 (Sabal Trail media line)
andrea.grover@enbridge.com
Analysts & Investors:
Roni Cappadonna
(713) 627-4778
investor.relations@enbridge.com
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SOURCE Spectra Energy Partners, LP
