Fortis Inc. has priced a public offering of US$1 billion aggregate principal amount of fixed-to-fixed rate junior subordinated notes, comprising US$500 million of 6.625% notes due March 30, 2057 and US$500 million of 6.875% notes due March 30, 2057. The offering is being made on a firm commitment basis through a syndicate of underwriters co-led by Morgan Stanley & Co. LLC, MUFG Securities Americas Inc., Wells Fargo Securities, LLC and BofA Securities, Inc., with the closing expected on September 21, 2026. Fortis intends to use the net proceeds to repay maturing indebtedness and for general corporate purposes. The notes will be issued under a prospectus supplement to Fortis' short form base shelf prospectus dated December 9, 2024, filed with Canadian securities regulators and the U.S. Securities and Exchange Commission.
Fortis IncFortis priced a US$1 billion junior subordinated notes offering to repay maturing debt and for general corporate purposes.
Bank of America Corp
