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 $200 million aggregate principal amount of its 4.16% First Mortgage Bonds, Series H due 2047 (the “Bonds”) in a private placement. The offering closed on April 18, 2017.
ITC is the nation’s largest independent electric transmission company. 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. Through its regulated operating subsidiaries ITCTransmission, Michigan Electric Transmission Company, ITC Midwest and ITC Great Plains, ITC owns and operates high-voltage transmission facilities in Michigan, Iowa, Minnesota, Illinois, Missouri, Kansas and Oklahoma.
The Simpson Thacher team for the transaction included Risë Norman, Rodrigo Surcan dos Santos, Benjamin Heriaud and Bassam Chain (Capital Markets); Christian Fischer (Credit); Adeeb R. Fadil and Noreen Lavan (Environmental); Paul Koppel (Executive Compensation and Employee Benefits); Krista McManus (Real Estate); and Sophie Staples and Jasmine Hay (Tax).