Ms. Janet Craig reports

FORTIS INC. ANNOUNCES PRICING OF US$2.0 BILLION NOTES OFFERING

Fortis Inc. has priced its previously announced $2.0-billion (U.S.) note offering. The corporation priced $500-million (U.S.) of notes due 2021 at 2.100 per cent and $1.5-billion (U.S.) of notes due 2026 at 3.055 per cent. The offering is expected to close on Oct. 4, 2016.

Fortis intends to use the net proceeds from the notes offering to finance a portion of the cash consideration for the previously announced acquisition of ITC Holdings Corp.

About Fortis

Fortis is a leader in the North American electric and gas utility business, with total assets of approximately $29-billion (Canadian) as of June 30, 2016, and revenue of $6.7-billion (Canadian) for fiscal year 2015. As of June 30, 2016, the corporation's asset mix is approximately 94 per cent regulated (69 per cent electric, 25 per cent gas), with the remaining 6 per cent comprising non-regulated energy infrastructure. The corporation's regulated utilities serve more than three million customers across Canada, the United States and the Caribbean.

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