ITC Midwest Completes $225 Million Mortgage Bonds Offering
04.09.15
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Simpson Thacher recently represented ITC Midwest LLC (“ITC Midwest”), a wholly owned subsidiary of ITC Holdings Corp. (“ITC”), in connection with ITC Midwest’s issuance of $225 million aggregate principal amount of its 3.83% First Mortgage Bonds, Series G due 2055 (the “Bonds”) in a private placement. The offering closed on April 7, 2015.
ITC operates, maintains and invests in transmission infrastructure in order to enhance system integrity and reliability, to reduce transmission constraints and to allow new generating resources to interconnect to its transmission systems. ITC is the largest independent electricity transmission company in the United States.
The Simpson Thacher team for the transaction included Risë Norman, Rodrigo Surcan dos Santos and Ashley Belton (Capital Markets); Adeeb R. Fadil and Noreen Lavan (Environmental); Paul Koppel and Brittany McCants (Executive Compensation and Employee Benefits); Krista McManus (Real Estate); Sophie Staples (Tax); and Abram Ellis (Regulatory).