Fortis Turns To Public Markets For $345M To Back UNS Deal
By Tom Zanki ( September 3, 2014, 5:20 PM EDT) -- Canadian utility Fortis Inc. said Wednesday it is teaming with Scotiabank and RBC Capital Markets in a follow-on offering of preferred shares designed to raise up to $345 million to repay a portion of the money the company borrowed to finance its $4.5 billion acquisition of UNS Energy....
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