Fortis Inc. Announces Pricing of Fixed-to-Fixed Rate Subordinated Notes

Fortis Inc. Announces Pricing of Fixed-to-Fixed Rate Subordinated Notes

Benzinga
September 2, 2025

Not for distribution to U.S. news wire services or dissemination in the United States.

This news release constitutes a "designated news release" for the purposes of the Corporation's prospectus supplement dated December 9, 2024 to Fortis' short form base shelf prospectus dated December 9, 2024.

ST. JOHN'S, Newfoundland and Labrador, Sept. 02, 2025 (GLOBE NEWSWIRE) -- Fortis Inc. ("Fortis" or the "Corporation") (TSX:FTS) announced today that it has priced an offering by private placement (the "Offering"), pursuant to the exemptions from the prospectus requirements of applicable Canadian securities laws, of $750 million aggregate principal amount of 5.100% fixed-to-fixed rate subordinated notes due December 4, 2055 (the "Notes"). The Offering is being made on a best efforts basis through a syndicate of agents co-led by BMO Nesbitt Burns Inc., Scotia Capital Inc., CIBC World Markets Inc. and RBC Dominion Securities Inc. (collectively, the "Joint Bookrunners"), and TD Securities Inc., Desjardins Securities Inc., National Bank Financial Inc., Wells Fargo Securities Canada, Ltd., Merrill Lynch Canada Inc., Morgan Stanley Canada Limited, MUFG Securities (Canada), Ltd. and Cedar Leaf Capital Inc. (collectively, the "Co-Managers", and together with the Joint Bookrunners, the "Agents"), pursuant to an agency agreement entered into earlier today by the Corporation and the Agents. The Offering is expected to close on September 4, 2025.

Fortis expects to use the net proceeds of the Offering to reduce borrowings ...

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