Financing ·
Fortis Inc. priced a public offering of US$1 billion in aggregate principal amount of fixed-to-fixed rate junior…
FINCFFortis Inc.
Fortis Inc. priced a public offering of US$1 billion in aggregate principal amount of fixed-to-fixed rate junior subordinated notes due March 30, 2057. The issuance consists of two tranches: US$500 million at 6.625% interest and US$500 million at 6.875% interest. The offering was executed on a firm commitment basis through a syndicate of underwriters co-led by Morgan Stanley, MUFG Securities Americas, Wells Fargo Securities, and BofA Securities. Fortis intends to use the net proceeds to repay maturing indebtedness and for general corporate purposes. The transaction is expected to close on September 21, 2026, subject to customary closing conditions. Fortis operates in the regulated electric and gas utility industry.