Fortis (FTS) said late Monday it priced a private placement offering of $600 million in 4.09% senior unsecured notes due March 26, 2032.
The company said the offering, led by RBC Dominion Securities, BMO Nesbitt Burns, and TD Securities, is expected to close on March 26.
The net proceeds will be used to reduce borrowings under its revolving credit facility and for general corporate purposes, the company said, adding interest on the notes will be paid semi-annually starting Sept. 26.
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