Simpson Thacher represented (i) International Transmission Company (“ITCTransmission”), a wholly owned subsidiary of ITC Holdings Corp. (“ITC”), in connection with ITCTransmission’s issuance of $175 million aggregate principal amount of its 4.78% First Mortgage Bonds, Series M, due 2034 and (ii) ITC Midwest LLC (“ITC Midwest”), a wholly owned subsidiary of ITC, in connection with ITC Midwest’s issuance of $175 million aggregate principal amount of its 4.86% First Mortgage Bonds, Series O, due 2035 in private placements. Both offerings closed on March 12, 2026.
ITC is the largest independent electricity transmission company in the United States. ITC provides transmission grid solutions to improve reliability, expand access to markets, allow new generating resources to interconnect to its systems and lower the overall cost of delivered energy. Through its regulated operating subsidiaries ITCTransmission, Michigan Electric Transmission Company, ITC Midwest and ITC Great Plains, ITC owns and operates high-voltage transmission infrastructure in Michigan, Iowa, Minnesota, Illinois, Missouri, Kansas, Oklahoma and Wisconsin. These systems serve a combined peak load exceeding 23,500 megawatt hours along approximately 16,000 circuit miles of transmission line. ITC is a subsidiary of Fortis Inc., a leader in the North American regulated electric and gas utility industry.
The Simpson Thacher team for the transaction included Mark Brod, Julie de Keukeleire, Marlena Choupo and Sandy Cho (Capital Markets); George Gerstein (Executive Compensation and Employee Benefits); Jon Cantor and Jemma Li (Tax); Krista McManus (Real Estate); and Eli Isak (Credit).