Fortis Prices $550M Of 5.677% Senior Unsecured Notes Due November 8, 2033

Author: Benzinga Newsdesk | November 07, 2023 03:19am

Fortis Inc.  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 $500 million aggregate principal amount of 5.677% senior unsecured notes due November 8, 2033 (the "Notes"). The Offering is being made on a best efforts basis through a syndicate of agents co-led by RBC Dominion Securities Inc., BMO Nesbitt Burns Inc. and Scotia Capital Inc. (collectively, the "Joint Bookrunners"), and TD Securities Inc., CIBC World Markets Inc., Desjardins Securities Inc., National Bank Financial Inc., Morgan Stanley Canada Limited, Merrill Lynch Canada, Inc., MUFG Securities (Canada), Ltd. and Wells Fargo Securities Canada, Ltd. (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 November 8, 2023.

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