Home › Investors elect to swap $1.79 billion of Fortis debt for common shares
 

Keywords :   


Investors elect to swap $1.79 billion of Fortis debt for common shares

2014-10-29 07:46:17| Energy - Topix.net

ST. JOHN'S, N.L. - Fortis Inc. is issuing more than 58 million common shares to holders of convertible debt that was issued to finance part of its US$4.3-billion acqusition of Arizona-based UNS Energy Corp. The Newfoundland-based utility company said Tuesday that the stock represents most of the $1.8 billion in convertible debentures issued to pay for the UNS deal, which was announced last December. Only about $11.2 million of the convertible debt remains outstanding and Fortis will delist its publicly traded installment receipts, which have been a proxy for the debentures' underlying stock.

Tags: common debt shares billion

Category:Energy and Environment

Latest from this category

All news
28.06Heritage Environmental Services to Acquire EBV from General Dynamics
28.06This Week in Waste: Top Stories June 24 June 27, 2024
28.06Greenfield, Mass. Begins Transition to Single-Stream Recycling
28.06Ottawa, Canada Approves New Solid Waste Master Plan to Extend Life of Landfill
28.06The Recycling Partnership Elects New Directors to Board, Appoints New Senior Leaders in Marketing and Policy
27.06Cleanaway Waste Management Acquires Citywide Waste for $110 Million
27.06Wayne County, Miss. Officials Look into Solutions for Hazardous, Construction Waste
27.06Texas Disposals Gregory Transforms Ideas Into Real World Plans
Energy and Environment »
29.06Atlantic Tropical Weather Outlook
29.06Eastern North Pacific Tropical Weather Outlook
28.06What we learned from IT expert at Post Office inquiry
28.06M&S to launch clothing repairs service
28.06Tropical Depression Two Graphics
28.06Tropical Depression Two Public Advisory Number 1
28.06Summary for Tropical Depression Two (AT2/AL022024)
28.06Tropical Depression Two Forecast Advisory Number 1
More »