Spectra EnergyCorp acted as guarantor in the $2 billion revolving creditagreement its unit Spectra EnergyCapital LLC has entered into to fund general corporate purposes.
Amounts owed under the credit agreement will be payable onSept. 28, 2017 but may be extended for a year at the request of Spectra EnergyCapital, according to an Oct. 4 SEC filing. Interest on borrowings will bebased on current interest rates stipulated on the agreement and the creditratings of Spectra Energy Capital.
All amounts owed under the credit agreement will becomeimmediately due upon any change in control of Spectra Energy Corp, including thatwhich results from the C$37billion merger agreement it entered into with
Citibank NA acted as administrative agent under theagreement, while BMO Harris Bank NA acted as syndication agent. CitigroupGlobal Markets Inc. as well as BMO Capital Markets Corp. acted as joint leadarrangers and joint bookrunners.