Source: Fortis Inc.
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  • Fortis (FTS) has priced a $500,000,000 public offering of 4.431 per cent senior unsecured notes
  • Interest on the notes will be payable semi-annually on May 31 and November 30 of each year
  • Net proceeds will be used primarily to fund the redemption of the corporation’s $500,000,000 senior unsecured notes due December 2023
  • Fortis is a leader in the North American regulated electric and gas utility industry
  • Fortis Inc. (FTS) is down 0.62 per cent on the day, trading at C$62.60 per share at 2:45 pm ET

Fortis (FTS) has priced a $500,000,000 public offering of 4.431 per cent senior unsecured notes due May 31, 2029.

Fortis will file a prospectus supplement with securities regulatory authorities later today. The offering is being made through a syndicate of agents co-led by BMO Nesbitt Burns Inc., CIBC World Markets Inc. and Scotia Capital Inc., and including TD Securities Inc., RBC Dominion Securities Inc., Desjardins Securities Inc., National Bank Financial Inc., Merrill Lynch Canada, Inc., Morgan Stanley Canada Limited, MUFG Securities (Canada), Ltd. and Wells Fargo Securities Canada, Ltd. 

Interest on the notes will be payable semi-annually on May 31 and November 30 of each year, beginning on November 30, 2022.

Net proceeds will be used to fund the redemption of the corporation’s $500,000,000 senior unsecured notes due December 2023 and for general corporate purposes.

Fortis is a leader in the North American regulated electric and gas utility industry. The corporation serves utility customers in five Canadian provinces, nine U.S. states and three Caribbean countries.

Fortis Inc. (FTS) is down 0.62 per cent on the day, trading at C$62.60 per share at 2:45 pm ET.

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