Fortis outlines USD benchmark junior subordinated notes offering in investor presentation
FTS•Debt offering details
Fortis released a Q3 2026 debt offering investor presentation for a USD benchmark issuance of Junior Subordinated Notes.
Two tranches are being marketed: 30.5 NC 5.25-years and 30.5 NC 10.25-years. The notes carry a fixed-to-fixed rate coupon subject to a floor.
Use of proceeds and terms
Proceeds are earmarked to repay maturing indebtedness and support general corporate purposes.
The notes include cumulative optional coupon deferral of up to 10 consecutive years per deferral. Expected ratings are S&P BBB (Stable) and Fitch BBB- (Stable), with 50% equity treatment.
