Simpson Thacher recently represented ITC Holdings Corp. (“ITC Holdings”) in connection with its registered offering of $250 million aggregate principal amount of its 4.05% Senior Notes due 2023 and $300 million aggregate principal amount of its 5.30% Senior Notes due 2043 (together, “ITC Holdings Senior Notes”). The ITC Holdings Senior Notes offering closed on July 3, 2013.
ITC Holdings is the largest independent electric transmission company in the United States. ITC invests in the electric transmission grid to improve reliability, expand access to markets, lower the overall cost of delivered energy and allow new generating resources to interconnect to its transmission systems. ITC’s regulated operating subsidiaries include ITCTransmission, Michigan Electric Transmission Co., ITC Midwest and ITC Great Plains.
The Simpson Thacher team for the ITC Holdings transaction included Risë Norman, Benjamin Wells, Vanessa Clark and Taylor Smith (Capital Markets), Chang Choi, Jessica Garcia (Tax), Brittany McCants (Executive Compensation and Employee Benefits), Adeeb Fadil, Noreen Lavan (Environmental) and Krista McManus (Real Estate). Summer associate Derek Stueben also provided valuable assistance.