BORROWINGS (Tables)

6 Months Ended

Jun. 30, 2025

Disclosure of detailed information about borrowings


	Maturity	Annual Rate	Currency	As of
				June 30, 2025		December 31, 2024
Corporate revolving credit facility	June 29, 2030	SOFR plus 1.3%	US$	$	113	$	300

Commercial paper(1)	September 14, 2025	4.9%	US$	1,145		850





Non-current:
Medium-term notes:
Public - Canadian	November 14, 2027	5.6%	C$	331		313
Public - Canadian	September 11, 2028	4.2%	C$	515		487
Public - Canadian	October 9, 2029	3.4%	C$	515		487
Public - Canadian	July 27, 2030	5.7%	C$	367		348
Public - Canadian	September 1, 2032	2.9%	C$	367		348
Public - Canadian	February 14, 2033	6.0%	C$	184		174
Public - Canadian	April 25, 2034	5.4%	C$	294		278
Public - Canadian	April 25, 2052	5.8%	C$	147		139
Public - Canadian	July 27, 2053	6.0%	C$	147		139

Subordinated notes:
Public - United States	March 15, 2055	6.8%	US$	300		300
Public - Canadian	September 1, 2055	5.6%	C$	184		—
Public – United States	May 24, 2081	5.0%	US$	250		250
Public – United States	May 31, 2084	7.3%	US$	158		158
				5,017		4,571
Deferred financing costs and other				(29)		(29)
Total				$	4,988	$	4,542

1.Maturity and annual rate associated with our commercial paper program represents a weighted average of all outstanding obligations as of June 30, 2025.


	As of
US$ MILLIONS	June 30, 2025		December 31, 2024
Current	$	3,490	$	2,838
Non-current	44,150		43,714
Total	$	47,640	$	46,552