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Long-Term Debt (Tables)
 6 Months Ended
Jun. 30, 2020
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt
As at
June 30,December 31,
($ millions)2020  2019  
Long-term debt23,656  21,547  
Fair value adjustment - ITC acquisition133  133  
Credit facility borrowings 909  640  
Total long-term debt24,698  22,320  
Less: Deferred financing costs and debt discounts(147) (129) 
Less: Current installments of long-term debt(990) (690) 
23,561  21,501  
The long-term debt issuances for the six months ended June 30, 2020 are summarized below.
Interest
MonthRateUse of
($ millions, except %)Issued(%)MaturityAmountProceeds
ITC
Unsecured term loan credit agreement
January
(1)
2021  US75  
(2)(3)
Unsecured term loan credit agreement (4)
January
(5)
2021  US200  
(4)
Unsecured senior notes
May2.95  2030  US700  
(2)(3)(6)
UNS Energy
Unsecured senior notes
April4.00  2050  US350  
(2)(3)
Central Hudson
Unsecured senior notes
May3.42  2050  US30  
(3)
FortisBC Electric
Unsecured debentures
May3.12  2050  75  
(2)
Newfoundland Power
First mortgage sinking fund bonds
April3.61  2060  100  
(2)(3)
FortisTCI
Unsecured senior notes (7)
June5.30  2035  US15  
(8)(9)

(1) Floating rate of a one-month LIBOR plus a spread of 0.45%
(2) Repay credit facility borrowings
(3) General corporate purposes
(4) Maximum amount of borrowings under this agreement of US$400 million has been drawn; current period borrowings were used to repay an outstanding commercial paper balance.
(5) Floating rate of a two-month LIBOR plus a spread of 0.60%
(6) Early redemption of unsecured term loan credit agreement of US$400 million
(7) Maximum amount of borrowings under this agreement is US$30 million.
(8) Repay maturing long-term debt
(9) Finance capital expenditures
Schedule of Credit Facilities
As at
RegulatedCorporateJune 30,December 31,
($ millions)Utilitiesand Other2020  2019  
Total credit facilities3,982  1,881  5,863  5,590  
Credit facilities utilized:
Short-term borrowings (1)
(25) —  (25) (512) 
Long-term debt (including
current portion) (2)
(909) —  (909) (640) 
Letters of credit outstanding(83) (53) (136) (114) 
Credit facilities unutilized2,965  1,828  4,793  4,324  
(1) The weighted average interest rate was approximately 1.9% (December 31, 2019 - 3.2%).
(2) The weighted average interest rate was approximately 1.1% (December 31, 2019 - 2.4%). The current portion was $371 million (December 31, 2019 - $252 million).