Business
ITC Holdings Corp. Announces Pricing of $500 Million Senior Notes due 2031 and $400 Million Senior Notes due 2036
ITC Holdings Corp. ("ITC"), a subsidiary of Fortis Inc., today announced that it has priced a private offering of $500 million aggregate principal amount of its 4.875% senior unsecured notes due 2031 (the "2031 notes") and $400 million aggregate principal amount of its 5.500% senior unsecured notes due 2036 (the "2036 notes" and, together with the 2031 notes, the "notes"). The offering is expected to close on April 1, 2026, subject to the satisfaction of customary closing conditions.
About this update from Fortis Inc.
[{"type":"text","content":"NOVI, Mich., March 23, 2026 /PRNewswire/ -- ITC Holdings Corp. ("ITC"), a subsidiary of Fortis Inc., today announced that it has priced a private offering of $500 million aggregate principal amount of its 4.875% senior unsecured notes due 2031 (the "2031 notes") and $400 million aggregate principal amount of its 5.500% senior unsecured notes due 2036 (the "2036 notes" and, together with the 2031 notes, the "notes"). The offering is expected to close on April 1, 2026, subject to the satisfaction of customary closing conditions.","length":577,"tagName":"p"},{"type":"image","alt":"ITC Holdings Corp.","displaySize":"","headline":null,"caption":"ITC Holdings Corp.","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":181,"url":"https://media.zenfs.com/en/prnewswire.com/d381fd592b4823258a1b0bbacd80020c"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/aDtYxpXtMSazGwRUZAqdMg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTMxOQ--/https://media.zenfs.com/en/prnewswire.com/d381fd592b4823258a1b0bbacd80020c","width":400,"height":181}},"href":"https://mma.prnewswire.com/media/2940493/ITC_Fortis_1016_Helvetica_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"ITC intends to use the net proceeds from this offering to fully redeem $400 million aggregate principal amount of its 3.25% senior unsecured notes due June 30, 2026, to repay indebtedness outstanding under its commercial paper program and for general corporate purposes.","length":270,"tagName":"p"},{"type":"text","content":"The notes are being offered in the United States only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to certain non-U.S. persons in transactions outside the United States in reliance on Regulation S under the Securities Act. The notes have not, and will not be registered under the Securities Act, or the securities laws of any other jurisdiction, and the notes may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable securities laws of any other jurisdiction. This press release does not and will not constitute an offer to sell any of the no...