Flexibility On Record Date Upsets Some Fortis Installment Receipt Holders

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Aug. 15, 2014 should have been a day of celebrations at Fortis Inc. given that it closed its largest acquisition, a US$4.5-billion purchase of UNS Energy, earlier than initially expected. And it should have been good news for holders of instalment receipts which agreed to ante up $1.8-billion in the form of convertible debentures with two-thirds…

Flexibility on record date upsets some Fortis instalment receipt holders

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