May 2, 2014
ITC Holdings Corp. (NYSE: ITC) announced that it has commenced a cash tender offer for any and all of its outstanding $255,000,000 aggregate principal amount of 5.875% Senior Notes due 2016 (the "2016 Senior Notes") and its outstanding $255,000,000 aggregate principal amount of 6.375% Senior Notes due 2036 (the "2036 Senior Notes" and, together with the 2016 Senior Notes, the "Notes").
In conjunction with the offer, ITC is soliciting consents to proposed amendments that modify certain of the covenants applicable to the Notes contained in the indenture governing the Notes. The cash tender offer and the consent solicitation are being made pursuant to an Offer to Purchase and Consent Solicitation Statement dated May 2, 2014 (the "Offer to Purchase") and the related Letter of Transmittal and Consent, which contain detailed information concerning the terms of the offer and the consent solicitation.
Holders may either tender their Notes pursuant to the Offer to Purchase and, if tendered on or before the Early Tender and Consent Expiration Date (as defined below), deliver their consents to the Proposed Amendments (as defined in the Offer to Purchase), or holders may separately deliver their consents on or before the Early Tender and Consent Expiration Date to the Proposed Amendments without tendering their Notes in the offer.
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ITC Holdings Corp.
27175 Energy Way
United States, 48377