ST. JOHN’S, NEWFOUNDLAND AND LABRADOR–(Marketwired – Dec. 12, 2016) –
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Fortis Inc. (“Fortis” or the “Corporation”) (TSX:FTS)(NYSE:FTS) announced today that it has closed its offering (the “Offering”) of $500,000,000 aggregate principal amount of 2.85% senior unsecured notes due December 12, 2023 (the “Notes”). The Offering was made to the public through a syndicate of agents co-led by Scotia Capital Inc., BMO Nesbitt Burns Inc. and TD Securities Inc., and including CIBC World Markets Inc., RBC Dominion Securities Inc., Desjardins Securities Inc., National Bank Financial Inc., HSBC Securities (Canada) Inc., Merrill Lynch Canada, Inc. and Casgrain & Company Limited.
The net proceeds of the Offering will be used to repay short-term indebtedness and for general corporate purposes.
About Fortis
Fortis is a leader in the North American regulated electric and gas utility industry with total assets of approximately $47 billion, on a pro forma basis as at September 30, 2016 including the acquisition of ITC Holdings Corp. The Corporation’s 8,000 employees serve utility customers in five Canadian provinces, nine U.S. states and three Caribbean countries.
Fortis shares are listed on the TSX and NYSE and trade under the symbol FTS. Additional information can be accessed at www.fortisinc.com, www.sedar.com, or www.sec.gov.
Fortis includes forward-looking statements in this media release within the meaning of applicable securities laws including the Private Securities Litigation Reform Act of 1995. Forward-looking statements included in this media release reflect expectations of Fortis management regarding future growth, results of operations, performance, business prospects and opportunities. Wherever possible, words such as “anticipates”, “believes”, “budgets”, “could”, “estimates”, “expects”, “forecasts”, “intends”, “may”, “might”, “plans”, “projects”, “schedule”, “should”, “target”, “will”, “would” and the negative of these terms and other similar terminology or expressions have been used to identify the forward-looking statements, which include, without limitation, the Corporation’s expected use of the net proceeds from the Offering.
Forward-looking statements involve significant risk, uncertainties and assumptions. Certain material factors or assumptions have been applied in drawing the conclusions contained in the forward-looking statements. These factors or assumptions are subject to inherent risks and uncertainties surrounding future expectations generally, including those identified from time to time in the forward-looking statements. Fortis cautions readers that a number of factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and undue reliance should not be placed on the forward-looking statements. For additional information with respect to certain of these risks or factors and risk factors relating to the Notes, reference should be made to the Corporation’s prospectus supplement dated December 7, 2016 together with the short form base shelf prospectus to which it relates dated November 30, 2016 and the continuous disclosure materials filed from time to time by Fortis with Canadian securities regulatory authorities and the Securities and Exchange Commission. Fortis disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Ms. Janet Craig
Vice President, Investor Relations
Fortis Inc.
709.737.2900
Media Enquiries
Ms. Karen McCarthy
Director, Communications & Corporate Affairs
Fortis Inc.
709.737.5323