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Spectra Energy Partners LP plans to establish a continuous offering program under which the Partnership may issue and sell from time to time through a sales agent up to $200 million of common units representing limited partner interests in the Partnership.
The Partnership expects to initiate this program in the second quarter of 2013 and intends to use the net proceeds from the offering to fund 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.