Michigan Electric Transmission Company, LLC Completes $200 Million Senior Secured Notes Offering
04.26.16
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Simpson Thacher recently represented Michigan Electric Transmission Company, LLC (“METC”), a wholly owned subsidiary of ITC Holdings Corp. (“ITC”), in connection with METC’s offering of $200 million aggregate principal amount of its 3.9% Senior Secured Notes due 2046 in a private placement. The offering closed on April 26, 2016.
ITC is the largest independent electricity transmission company in the United States. ITC owns, 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.
The Simpson Thacher team for the transaction included Risë Norman, Rodrigo Surcan dos Santos, Siobhan Lam, Maria Monte and Derrick Sutter (Capital Markets); Christian Fischer (Credit); Paul Koppel (Executive Compensation and Employee Benefits); Sophie Staples (Tax); and Adeeb Fadil and Noreen Lavan (Environmental).