---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-113385"
form_type: "8-K"
ticker: null
cik: "0001317630"
company_name: "ITC Holdings Corp."
filed_at: "2023-11-01T23:59:59+00:00"
generated_at: "2026-06-09T02:06:36.429160+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# ITC subsidiary METC issues $90M of 5.65% senior secured notes due 2028

## Summary
- METC issued $90M aggregate principal of 5.65% Series A Senior Secured Notes due Nov 1, 2028.
- Net proceeds to repay revolving credit, fund capital expenditures, and for general corporate purposes.
- Notes secured by first mortgage lien on substantially all of METC's real and tangible personal property.
- Interest payable semi-annually at 5.65%; notes redeemable at make-whole premium (T+95 bps) or par after Oct 1, 2028.

## SEC filing metadata
- accession: 0001104659-23-113385
- form_type: 8-K
- cik: 0001317630
- company_name: ITC Holdings Corp.
- filed_at: 2023-11-01T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1317630/000110465923113385/0001104659-23-113385-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1317630/000110465923113385/tm2329541d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-113385
- JSON: https://secwatch.observer/filing/0001104659-23-113385.json
- Plain text: https://secwatch.observer/filing/0001104659-23-113385.txt

## Key facts
- Debt Financings
  ITC Holdings Corp. incurred senior notes of $90,000,000 aggregate principal amount with The Bank of New York Mellon Trust Company, N.A., as successor to JPMorgan Chase Bank, as trustee at 5.65% per annum maturing November 1, 2028.
  - Instrument: senior notes
  - Principal: $90,000,000 aggregate principal amount
  - Counterparty: The Bank of New York Mellon Trust Company, N.A., as successor to JPMorgan Chase Bank, as trustee
  - Rate: 5.65% per annum
  - Maturity: November 1, 2028
  - Event: incurrence
  source text: On November 1, 2023, Michigan Electric Transmission Company, LLC (“METC”), an indirect wholly-owned subsidiary of ITC Holdings Corp. (the “Company”), issued $90,000,000 aggregate principal amount of its 5.65% Series A Senior Secured Notes due 2028 (the “METC Notes”) in a private placement
  evidence_url: https://www.sec.gov/Archives/edgar/data/1317630/000110465923113385/0001104659-23-113385-index.htm
- Material Agreements
  ITC Holdings Corp. entered into Purchase Agreement with institutional accredited investors valued at $90,000,000 aggregate principal amount (effective 2023-11-01).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: institutional accredited investors
  - Value: $90,000,000 aggregate principal amount
  - Effective: 2023-11-01
  source text: On November 1, 2023, Michigan Electric Transmission Company, LLC (“METC”), an indirect wholly-owned subsidiary of ITC Holdings Corp. (the “Company”), issued $90,000,000 aggregate principal amount of its 5.65% Series A Senior Secured Notes due 2028 (the “METC Notes”) in a private placement in reliance on an exemption from registration under the Securities Act of 1933, as amended (the “Securities Act”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1317630/000110465923113385/0001104659-23-113385-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.