Simpson Thacher recently represented International Transmission Company (“ITCTransmission”), a wholly-owned subsidiary of ITC Holdings Corp. (“ITC Holdings”), in connection with its offering pursuant to Rule 144A and Regulation S of $285 million aggregate principal amount of its 4.625% First Mortgage Bonds, Series E, due 2043. The offering closed on August 14, 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. Based in Novi, Michigan, ITCTransmission owns, operates and maintains approximately 2,800 circuit miles of transmission lines in southeast Michigan.
The Simpson Thacher team for the transaction included Risë Norman, Benjamin Wells, Vanessa Clark, Grant Manning and William Allen (Capital Markets); Chang Won Choi (Tax); Brittany McCants (Executive Compensation and Employee Benefits); Adeeb Fadil and Noreen Lavan (Environmental); and Krista McManus (Real Estate).