Fortis Inc. Announces Pricing of Fixed-to-Fixed Rate Junior Subordinated Notes
Fortis has priced a US$1 billion public offering of junior subordinated notes in two tranches: US$500 million at 6.625% and US$500 million at 6.875%, both due March 30, 2057. The firm-commitment offering is co-led by Morgan Stanley, MUFG Securities Americas, Wells Fargo Securities and BofA Securities, with a broader nine-firm syndicate, and is expected to close on September 21, 2026 subject to customary conditions.
Key figures
- Revenue
- 12000000000
- Total assets
- 79000000000
- Maturity date
- March 30, 2057
- Tranche 1 coupon
- 6.625%
- Tranche 2 coupon
- 6.875%
- Offering size usd
- 1000000000
- Tranche 1 size usd
- 500000000
- Tranche 2 size usd
- 500000000
- Expected closing date
- September 21, 2026
AI analysis
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