ITC Holdings intends to issue senior notes due 2022, 2027

By Devika Patel

Knoxville, Tenn., Nov. 9 – ITC Holdings Corp. intends to offer fixed-rate senior unsecured notes in two tranches due 2022 and 2027, according to a company news release.

Proceeds from the Rule 144A and Regulation S offering will be used to redeem in full $385 million of ITC's 6.05% senior notes due Jan. 31, 2018, to repay outstanding debt under ITC's term loan credit agreement, revolving credit agreement and commercial paper program and for general corporate purposes.

ITC is an electricity transmission company based in Novi, Mich.

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