Fortis Inc. Earns $47 Million In The Second Quarter – Yahoo Finance

In April 2014 FortisBC Electric extended the maturity of its $150 million unsecured committed revolving credit facility, with $100 million now maturing in May 2017 and $50 million now maturing in April 2015. In April 2014 FHI extended its $30 million unsecured committed revolving credit facility to mature in April 2015. In June 2014 FortisOntario extended its $30 million unsecured committed revolving credit facility to mature in June 2015 from June 2014. In July 2014 FEI, FortisAlberta and Newfoundland Power amended their $500 million, $250 million and $100 million, respectively, committed revolving credit facilities, resulting in extensions to their maturity dates to August 2016, August 2019 and August 2019, respectively, from August 2015, August 2018 and August 2017, respectively. For the purpose of bridge financing for the pending acquisition of UNS Energy (Note 1), in March 2014 the Corporation secured an aggregate of $2 billion non-revolving term credit facilities from a syndicate of banks. The non-revolving term credit facilities are comprised of a $1.7 billion short-term bridge facility, repayable in full nine months following its advance, and a $300 million medium-term bridge facility, repayable in full on the second anniversary of its advance. The credit facilities table does not include the $2 billion credit facilities. As a result of closing the Debentures related to the pending acquisition of UNS Energy (Note 1), the Corporation agreed to maintain availability under its committed revolving corporate credit facility of not less than $600 million to cover the principal amount of the first installment of the Debentures in the event of a mandatory redemption (Note 5).
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