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You may be trying to access this site from a secured browser on the server. Please enable scripts and reload this page. Fortis It looks like your browser does not have JavaScript enabled. Please turn on JavaScript and try again. FortisBC Inc. Kelowna, BC – July 4, 2007 – FortisBC Inc. ("FortisBC" or the "Company"), an indirect wholly owned subsidiary of Fortis Inc. (TSX:FTS), announced today the closing of its $105 million debenture issue. The issue consists of 5.90% senior unsecured debentures (the "Debentures") due July 4, 2047. The underwriting syndicate for the issue was led by Scotia Capital Inc., and includes CIBC World Markets Inc. and National Bank Financial Inc. FortisBC plans to use the net proceeds of the issue to repay certain existing indebtedness under its credit facilities, which was incurred primarily to fund capital expenditures. The balance of the proceeds is planned to be used for future capital expenditures and other general corporate purposes. The Debentures have been rated BBB (high), stable trend, by DBRS Limited and Baa2, Stable Outlook, by Moody's Investors Service. The Debentures will bear interest at a rate of 5.90% per annum, payable semi-annually in arrears in equal instalments on January 4 and July 4 of each year, commencing on January 4, 2008. The Debentures will mature on July 4, 2047. The Debentures have not been and will not be registered under the US Securities Act of 1933, as amended, and may not be offered or sold in the United States to any person absent registration or an applicable exemption from registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy the Debentures in the United States, nor shall there be any offer, solicitation, or sale of the Debentures in any state in which such offer, solicitation, or sale would be unlawful. FortisBC is an integrated electric utility based in Kelowna, British Columbia and operating in the southern interior of British Columbia. The Company serves approximately 152,000 customers directly and indirectly. The utility has four regulated hydroelectric generating plants with a combined capacity of 235 megawatts and approximately 6,750 kilometers of transmission and distribution power lines. FortisBC employs over 570 people in British Columbia and is an indirect wholly owned subsidiary of Fortis Inc., the largest investor-owned distribution utility in Canada, which serves almost 2,000,000 gas and electric customers and has approximately $10 billion of assets. The Common Shares, First Preference Shares, Series C, First Preference Shares, Series E and First Preference Shares, Series F of Fortis are traded on the Toronto Stock Exchange under the symbols FTS, FTS.PR.C, FTS.PR.E and FTS.PR.F, respectively. Fortis Inc. information can be accessed at www.fortisinc.com or www.sedar.com. FortisBC may include forward-looking statements in this release which reflect management's expectations regarding the Company's future growth, results of operations, performance, business prospects and opportunities. Wherever possible, words such as "anticipate", "believe", "expects", "intend" and similar expressions have been used to identify the forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to the Company's management. By their very nature, forward-looking statements are based on underlying factors or assumptions which are subject to inherent risks and uncertainties surrounding future expectations generally. Such risk factors or assumptions include, but are not limited to, general economic, market and business conditions, regulatory developments, weather and competition. FortisBC cautions readers that a number of factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and undue reliance should not be placed on the forward-looking statements. For additional information with respect to certain of these risks or factors, reference should be made to FortisBC's continuous disclosure materials filed from time to time with Canadian Securities Regulatory Authorities. FortisBC disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. FortisBC Inc. Fax: (866) 853-3084Featured LinksUnable to display this Web Part. To troubleshoot the problem, open this Web page in a Microsoft SharePoint Foundation-compatible HTML editor such as Microsoft SharePoint Designer. If the problem persists, contact your Web server administrator. Documents View PDFAbout FortisFortis Inc. is the largest investor-owned gas and electric distribution utility in Canada. Its regulated utilities account for 90 per cent of total assets and serve more than 2.4 million customers across Canada and in New York State and the Caribbean. Fortis owns non-regulated hydroelectric generation assets in Canada, Belize and Upstate New York. The Corporation's non-utility investment is comprised of hotels and commercial real estate in Canada. St. St. T: 709.737. F: 709.737. W: www.fortisinc. E: investorrelations@fortisinc.com Legal Notice Privacy Policy FortisBC-Inc-Closes-$105-Million-Debenture-Issue FortisBC Inc. 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