Fortis Inc. Successfully Completes Subordinated Notes Offering
Fortis Inc. Successfully Closes Offering of Subordinated Notes
Fortis Inc. (TSX: FTS) recently announced the successful closure of its offering of $750 million aggregate principal amount of 5.100% fixed-to-fixed rate subordinated notes, set to mature on December 4, 2055. This offering marks an important milestone for Fortis as it enhances the company’s financial stability and supports its ongoing growth strategies.
Details of the Offering
This private placement, known as the "Offering," was conducted pursuant to exemptions from the prospectus requirements of Canadian securities laws. The offering was led by a syndicate of agents including top firms such as BMO Nesbitt Burns Inc. and Scotia Capital Inc., among others. The successful completion of this offering is crucial for Fortis as it provides the necessary capital for the company to invest in its robust infrastructure projects.
Significance of the Notes
The notes have not been registered under the U.S. Securities Act and are not available for sale in the United States unless a proper registration is achieved. They are aimed at improving the corporation's financial flexibility and allowing Fortis to better serve its utility customers.
About Fortis Inc.
Fortis Inc. is a leading name in the regulated electric and gas utility sector across North America, boasting a significant revenue of $12 billion for 2024 and a total asset base of around $73 billion as of mid-2025. The company employs approximately 9,700 individuals, providing essential services to its utility customers across five provinces in Canada, ten states in the U.S., and the Caribbean.
Operational Excellence
The operational strategy of Fortis focuses on safety, reliability, and sustainability. The company aims to provide exceptional utility services while being a responsible steward of the environment. Its team continues to innovate, ensuring infrastructure advancements align with customer needs and environmental standards.
Future Prospects for Fortis
As Fortis Inc. looks to the future, it plans to continue its growth trajectory through strategic investments and expansions. The funds acquired from the recent offering will support various projects aimed at enhancing service delivery and reliability. This will not only elevate the customer experience but also position Fortis as a leader in sustainable energy solutions.
Commitment to Stakeholders
Fortis remains committed to maintaining its leadership position while ensuring value for its stakeholders. By leveraging new funding, the company is poised to respond effectively to the dynamic trends within the energy sector. Fortis understands the importance of being adaptable and innovative amid evolving market demands.
Contact Information
For further inquiries regarding this offering or information about Fortis, interested parties can reach out to:
Investor Relations:
Ms. Stephanie Amaimo
Vice President, Investor Relations
Fortis Inc.
Telephone: 248.946.3572
Email: investorrelations@fortisinc.com
Media Relations:
Ms. Karen McCarthy
Vice President, Communications & Government Relations
Fortis Inc.
Telephone: 709.737.5323
Email: media@fortisinc.com
Frequently Asked Questions
What type of notes did Fortis Inc. issue?
Fortis Inc. issued 5.100% fixed-to-fixed rate subordinated notes due December 4, 2055.
How much money was raised through the offering?
The offering raised a total of $750 million in aggregate principal amount.
Who led the offering syndicate for Fortis?
The offering was co-led by firms including BMO Nesbitt Burns Inc., Scotia Capital Inc., among others.
What is the significance of these notes for Fortis?
The notes will enhance Fortis's financial flexibility and support its infrastructure projects.
Where can I find more information about Fortis Inc.?
More information can be accessed on Fortis's official website or through their investor relations contacts provided above.
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