ITC Holdings Corp. (NYSE: ITC) today announced it received, as of 5 p.m., New York City time, on May 15, 2014 (the "Early Tender and Consent Expiration Date"), tenders (and associated consents) from the holders of approximately $115.7 million aggregate principal amount (representing approximately 45.4%) of its 5.875% Senior Notes due 2016 (the "2016 Senior Notes") and approximately $54.7 million aggregate principal amount (representing approximately 21.4%) of its 6.375% Senior Notes due 2036 (the "2036 Senior Notes" and, together with the 2016 Senior Notes, the "Notes"), and consents (without tenders) from the holders of approximately $106.7 million aggregate principal amount (representing approximately 41.9%) of its 2016 Senior Notes and approximately $170.5 million aggregate principal amount (representing approximately 66.9%) of its 2036 Senior Notes - in connection with the previously announced cash tender offer for any and all of the Notes and the related solicitation of consents to the proposed amendments that modify certain of the covenants applicable to the Notes contained in the indenture governing the Notes (the "Indenture").
Read More