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Fortis Inc. Announces Pricing of Fixed-to-Fixed Rate Junior Subordinated Notes
The notes will fund debt repayment and general corporate purposes, with the offering expected to close Sept. 21, 2026, subject to customary conditions.
- On Tuesday, Fortis Inc. priced a US$1 billion offering of junior subordinated notes, comprising two US$500 million tranches with 6.625% and 6.875% interest rates maturing March 30, 2057.
- The Corporation expects to use the net proceeds to repay maturing indebtedness and support general corporate purposes, driving the need for capital market access.
- A syndicate of underwriters co-led by Morgan Stanley & Co., MUFG Securities Americas Inc., Wells Fargo Securities, LLC, and BofA Securities, Inc. manages the offering on a firm commitment basis.
- Subject to customary closing conditions, the offering is expected to close on September 21, 2026, following prospectus filings with Canadian and U.S. securities regulatory authorities.
- Fortis is a diversified leader in the North American regulated utility industry, reporting $12 billion in 2025 revenue and $79 billion in total assets as of June 30, 2026.
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The Toronto Star+11 Reposted by 11 other sources
Fortis Inc. Announces Pricing of Fixed-to-Fixed Rate Junior Subordinated Notes
The Base Shelf Prospectus is accessible, and the Prospectus Supplement and any Amendment to the Documents will be accessible through SEDAR+ within two business days.
·Toronto, Canada
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Leaning Left10Leaning Right2Center0Last UpdatedBias Distribution83% Left
Bias Distribution
- 83% of the sources lean Left
83% Left
L 83%
R 17%
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