DEBT |
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| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| DEBT | 8. DEBT
CREDIT FACILITIES The following table provides details of our committed credit facilities as at September 30, 2026:
1 Maturity date is inclusive of the one-year term out option for certain credit facilities. 2 Includes facility draws and commercial paper issuances that are back-stopped by credit facilities.
In July 2026, we renewed our 364-day extendible credit facilities, extending the maturity dates to , which includes a one-year term out provision from July 2027. We also renewed our five-year credit facilities, extending the maturity dates to . Further, we extended the maturity dates of our three-year credit facilities to .
In addition to the committed credit facilities noted above, we maintain $1.5 billion of uncommitted demand letter of credit facilities, of which $776 million was unutilized as at September 30, 2026. As at December 31, 2025, we had $1.6 billion of uncommitted demand letter of credit facilities, of which $932 million was unutilized.
Our credit facilities carry a weighted average standby fee of 0.1% per annum on the unused portion and draws bear interest at market rates. Certain credit facilities serve as a back-stop to our commercial paper programs and we have the option to extend such facilities, which are currently scheduled to mature from to .
As at September 30, 2026 and December 31, 2025, commercial paper and credit facility draws, net of short-term borrowings and non-revolving credit facilities that mature within one year, of $14.8 billion and $12.1 billion, respectively, were supported by the availability of long-term committed credit facilities and, therefore, have been classified as long-term debt.
LONG-TERM DEBT ISSUANCES During the nine months ended September 30, 2026, we completed the following long-term debt issuances totaling $3.0 billion and US$2.0 billion:
In October 2026, Public Service Company of North Carolina, Incorporated closed a two-tranche offering consisting of ten-year and thirty-year senior notes for an aggregate principal amount of US$500 million which mature in and , respectively.
LONG-TERM DEBT REPAYMENTS During the nine months ended September 30, 2026, we completed the following long-term debt repayments totaling $955 million, US$64 million and €22 million:
1 The notes carried an original maturity date of August 2026.
SUBORDINATED TERM NOTES As at September 30, 2026 and December 31, 2025, our fixed-to-floating rate and fixed-to-fixed rate subordinated term notes had an aggregate principal value of $16.4 billion and $16.0 billion, respectively.
FAIR VALUE ADJUSTMENT As at September 30, 2026 and December 31, 2025, the fair value adjustments to decrease total debt assumed in historical acquisitions were $447 million and $430 million, respectively.
DEBT COVENANTS Our credit facility agreements and term debt trust indentures include standard events of default and covenant provisions whereby accelerated repayment and/or termination of the agreements may result if we were to default on payment or violate certain covenants. As at September 30, 2026, we were in compliance with all such debt covenant provisions. |
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