ITC Holdings Corp.: debt financing — ITC Transmission and ITC Midwest issue $500M aggregate bonds in private placements

ITC Holdings Corp.

March 12: ITC Transmission $175M 4.78% Series M due 2034; ITC Midwest $175M 4.86% Series O due 2035.
July 15: ITC Transmission $50M 5.41% Series N due 2044; ITC Midwest $100M 5.53% Series P due 2047.
Proceeds to repay revolving credit debt, fund capex, and for general corporate purposes.
Bonds secured by first mortgage liens on substantially all real and tangible personal property of each issuer.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

ITC Holdings Corp. incurred mortgage of $100,000,000 with institutional accredited investors at 5.53% maturing July 15, 2047.

Instrument: mortgage
Principal: $100,000,000
Counterparty: institutional accredited investors
Rate: 5.53%
Maturity: July 15, 2047
Event: incurrence

Exact text from the filing

ITC Transmission will issue $50,000,000 aggregate principal amount of its 5.41% First Mortgage Bonds, Series N, due 2044 (the “ITCT Series N Bonds”) and (ii) ITCMW will issue $100,000,000 aggregate principal amount of its 5.53% First Mortgage Bonds, Series P, due 2047 (the “ITCMW Series P Bonds” and, together with the ITCT Series N Bonds, the “July Bonds” and,

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

ITC Holdings Corp. incurred mortgage of $50,000,000 with institutional accredited investors at 5.41% maturing July 15, 2044.

Instrument: mortgage
Principal: $50,000,000
Counterparty: institutional accredited investors
Rate: 5.41%
Maturity: July 15, 2044
Event: incurrence

Exact text from the filing

Mortgage Bonds, Series O, due 2035 (the “ITCMW Series O Bonds” and, together with the ITCT Series M Bonds, the “March Bonds”). On July 15, 2026, (i) ITC Transmission will issue $50,000,000 aggregate principal amount of its 5.41% First Mortgage Bonds, Series N, due 2044 (the “ITCT Series N Bonds”) and (ii) ITCMW will issue $100,000,000 aggregate principal amount

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ITC Holdings Corp. entered into ITCT Bond Purchase Agreement with initial bondholders named in Schedule A valued at $175,000,000 (effective 2026-03-12).

Action: entry
Agreement: notes offering
Counterparty: initial bondholders named in Schedule A
Value: $175,000,000
Effective: 2026-03-12

Exact text from the filing

ITCT Series M Bonds and the ITCT Series N Bonds were sold to institutional accredited investors (as defined by Rule 501(a) of the Securities Act) pursuant to a Bond Purchase Agreement, dated March 12, 2026, between ITC Transmission and the initial bondholders named in Schedule A thereto (the “ITCT Bond Purchase Agreement”)

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ITC Holdings Corp. entered into ITCMW Bond Purchase Agreement with initial bondholders named in Schedule A valued at $175,000,000 (effective 2026-03-12).

Action: entry
Agreement: notes offering
Counterparty: initial bondholders named in Schedule A
Value: $175,000,000
Effective: 2026-03-12

Exact text from the filing

ITCMW Series O Bonds and the ITCMW Series P Bonds were sold to institutional accredited investors (as defined by Rule 501(a) of the Securities Act) pursuant to a Bond Purchase Agreement, dated March 12, 2026, between ITCMW and the initial bondholders named in Schedule A thereto (the “ITCMW Bond Purchase Agreement”)

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Source: SEC EDGAR

accession 0001104659-26-027035

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