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Filing Details

Accession Number:: 0001181431-12-056302
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2012-11-02 15:11:30
Reporting Period:: 2012-10-31

Filing Date:: 2012-11-02
Accepted Time:: 2012-11-02 15:11:30
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1394074	Spectra Energy Partners Lp	SEP	Natural Gas Transmission (4922)	412232463

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
1051116	Spectra Energy Capital, Llc	5400 Westheimer Court Houston TX 77056	No	No	Yes	No
1373835	Spectra Energy Corp.	5400 Westheimer Court Houston TX 77056	No	No	Yes	Yes
1394072	Spectra Energy Partners Gp, Llc	5400 Westheimer Court Houston TX 77056	No	No	Yes	No
1394073	Spectra Energy Partners (De) Gp, Lp	5400 Westheimer Court Houston TX 77056	No	No	Yes	No
1404854	Spectra Energy Southeast Pipeline Corp.	5400 Westheimer Court Houston TX 77056	No	No	Yes	No
1404855	Spectra Energy Transmission, Llc	5400 Westheimer Court Houston TX 77056	No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Units Representing Limited Partner Interests	Acquisiton	2012-10-31	1,806,583	$0.00	62,721,269	No	4	P	Indirect	See footnotes

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	See footnotes

Footnotes

On October 31, 2012, in connection with the closing of the transactions contemplated by the Contribution Agreement, dated October 24, 2012, between the Issuer and Spectra Energy Partners (DE) GP, LP, the general partner of the Issuer (the "General Partner"), the Issuer acquired all of the limited liability company interests in Westcoast Energy (U.S.) LLC ("WEUS") for aggregate consideration of approximately $375 million. The consideration consisted of 1,806,583 Common Units and 36,869 general partner units of the Issuer issued to the General Partner and approximately $319 million in cash. The general partner of the General Partner is Spectra Energy Partners GP, LLC, a wholly owned subsidiary of Spectra Energy Transmission, LLC ("SET"). SET is wholly owned by Spectra Energy Capital, LLC ("Spectra Capital"), which is wholly owned by Spectra Energy Corp ("SE Corp"). (continued in Footnote 2)
(continued from Footnote 1) WEUS owns a 38.76% interest in Maritimes & Northeast Pipeline, L.L.C. ("M&N U.S."), which in turn owns and indirectly operates the portion of the Maritimes & Northeast Pipeline natural gas transmission system located in the U.S. (approximately 338 miles of mainline pipeline, with a mainline capacity of 0.8 Bcf/day). M&N U.S. has approximately $439 million in outstanding indebtedness, 38.76% of which is $170 million.
As of October 30, 2012, SET owns a 17.6% LP interest in the Issuer. Spectra Capital owns 100% of SET and SE Corp owns 100% of Spectra Capital. Accordingly, SE Corp, Spectra Capital and SET may be deemed to beneficially own all of the reported securities.
As of October 30, 2012, Spectra Energy Southeast Pipeline Corporation ("SE Southeast Pipeline") owns a 45.6% LP interest in the Issuer. SET owns 100% of SE Southeast Pipeline, Spectra Capital owns 100% of SET and SE Corp owns 100% of Spectra Capital. Accordingly, SE Corp, Spectra Capital, SET and SE Southeast Pipeline may be deemed to beneficially own all of the reported securities.