Financing ·
Fortis Inc. issues $500 million of 6.625% fixed-to-fixed rate junior subordinated notes due 2057
FRTJFFortis Inc.
Fortis Inc. issued $500 million in aggregate principal amount of 6.625% fixed-to-fixed rate junior subordinated notes due 2057 under a Second Supplemental Indenture dated September 21, 2026. The notes bear interest at an initial fixed rate of 6.625%, resetting to the five-year Treasury rate plus 2.016% on March 30, 2032, with subsequent resets every five years until maturity. Interest is payable semi-annually in arrears on March 30 and September 30, commencing March 30, 2027. The corporation retains the right to defer interest payments for up to ten consecutive years without constituting an event of default. These unsecured obligations are subordinated in right of payment to all senior indebtedness and structurally subordinated to subsidiaries' liabilities. Fortis Inc. operates as a regulated electric and gas utility company based in Canada.