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Fortis subsidiaries secure swingline credits, extend maturity

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Fortis subsidiaries secure swingline credits, extend maturity

Fortis Inc. subsidiaries amended their respective revolving credit facilities to extend maturity dates and secure swingline facilities with Wells Fargo Bank NA as administrative agent.

ITC Holdings Corp. secured a sublimit of $40 million, International Transmission Co. and Michigan Electric Transmission Co. LLC secured a sublimit of $10 million each, ITC Midwest LLC secured a sublimit of $22.5 million, and ITC Great Plains LLC secured a sublimit of $7.5 million, all representing 10% of their respective revolving credit facilities, according to a Jan. 10 SEC filing.

The companies also amended their respective credit facilities to extend the maturity dates to Oct. 20, 2023, from Oct. 21, 2022.

Wells Fargo Bank replaces JPMorgan Chase Bank NA as the resigning administrative agent.