Bawag to redeem EUR 175 million undated fixed to reset rate notes in full

Bawag to redeem EUR 175 million undated fixed to reset rate notes in full

Fortis Inc. (TSX: FTS), a diversified leader in the North American regulated electric and gas utility industry, has announced the closure of its $750 million offering of 5.100% fixed-to-fixed rate subordinated notes due December 4, 2055. The notes were sold through a syndicate of agents led by BMO Nesbitt Burns Inc., Scotia Capital Inc., CIBC World Markets Inc., and RBC Dominion Securities Inc. [1]

The offering, which closed on September 4, 2025, was made pursuant to the exemptions from the prospectus requirements of applicable Canadian securities laws. The notes, which are not registered under the U.S. Securities Act of 1933, as amended, were sold to qualified institutional buyers and high net worth individuals in Canada. The proceeds from the offering will be used to support the Corporation's capital expenditures and general corporate purposes [1].

Fortis Inc. operates in five Canadian provinces, ten U.S. states, and the Caribbean, serving over 9,700 employees and utility customers. With a revenue of $12 billion and total assets of $73 billion as of June 30, 2025, the company is well-positioned to meet its financial obligations and support its growth initiatives [1].

References:
[1] https://finance.yahoo.com/news/fortis-inc-announces-closing-offering-141700284.html