v3.26.1
Long-Term Debt
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Long-Term Debt LONG-TERM DEBT
As at
June 30,December 31,
($ millions)2026 2025 
Long-term debt34,503 32,542 
Credit facility borrowings 1,638 1,515 
Total long-term debt36,141 34,057 
Less: Deferred financing costs and debt discounts(199)(188)
Less: Current installments of long-term debt(3,395)(3,146)
32,547 30,723 
Significant Long-Term Debt IssuancesInterest
Year-to-date June 30, 2026MonthRateAmountUse of
($ millions, except as noted)
Issued

(%)
Maturity($ millions)Proceeds
ITC
Secured senior notesJanuary5.08 2036US $125 
(1) (2) (3)
Secured senior notesJanuary5.71 2046US $125 
(1) (2) (3)
First mortgage bondsMarch4.78 2034US $175 
(1) (2) (3)
First mortgage bondsMarch4.86 2035US $175 
(1) (2) (3)
Unsecured senior notesApril4.88 2031US $500 
(1) (3) (4)
Unsecured senior notesApril5.50 2036US $400 
(1) (3) (4)
Central Hudson
Unsecured senior notesApril
(5)
(5)
US $70 
(1) (3)
(1) Repay short-term and/or credit facility borrowings
(2) Fund capital expenditures
(3) General corporate purposes
(4) Repay maturing long-term debt
(5) Comprised of US$25 million at 5.51% due in 2036, US$35 million at 5.86% due in 2041 and US$10 million at 6.01% due in 2046

In July 2026, ITC issued US$50 million of 18-year, 5.41% first mortgage bonds and US$100 million of 21-year, 5.53% first mortgage bonds. Proceeds will be used to repay credit facility borrowings, fund capital expenditures, and for general corporate purposes.

In July 2026, FortisAlberta issued $200 million of 30-year, 4.92% senior unsecured debentures. Proceeds will be used to repay credit facility borrowings, fund capital expenditures, and for general corporate purposes.

In March 2026, Fortis redeemed US$115 million of its U.S. dollar-denominated unsecured senior notes with original maturities ranging from 2029 to 2044, and in August 2026 Fortis will redeem US$75 million of its U.S. dollar-denominated unsecured senior notes with an original maturity in 2040.

In December 2024, Fortis filed a short-form base shelf prospectus with a 25-month life under which it may issue common or preference shares, subscription receipts, or debt securities in an aggregate principal amount of up to $2.0 billion. Fortis re-established the at-the-market equity program ("ATM Program") pursuant to the short-form base shelf prospectus, which allows the Corporation to issue up to $500 million of common shares from treasury to the public from time to time, at the Corporation's discretion, effective until January 10, 2027. As at June 30, 2026, $500 million remained available under the ATM Program and $1.5 billion remained available under the short-form base shelf prospectus.
As at
Credit facilitiesRegulatedCorporateJune 30,December 31,
($ millions)Utilitiesand Other2026 2025 
Total credit facilities4,307 1,585 5,892 5,773 
Credit facilities utilized:
Short-term borrowings (1)
(39)— (39)(412)
Long-term debt (including current portion) (2)
(1,366)(272)(1,638)(1,515)
Letters of credit outstanding(83)(22)(105)(105)
Credit facilities unutilized2,819 1,291 4,110 3,741 
(1)    The weighted average interest rate was 4.5% (December 31, 2025 - 4.2%).
(2)    The weighted average interest rate was 3.8% (December 31, 2025 - 3.8%). The current portion was $1,322 million (December 31, 2025 - $707 million).

Credit facilities are syndicated primarily with large banks in Canada and the U.S., with no one bank holding more than approximately 20% of the Corporation's total revolving credit facilities. Approximately $5.5 billion of the total credit facilities are committed with maturities ranging from 2027 through 2031.

See Note 14 in the 2025 Annual Financial Statements for a description of the credit facilities as at December 31, 2025. In May 2026, the Corporation amended its $1.3 billion revolving term committed credit facility to extend the maturity to July 2031.