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ITC Transmission issues $75M of 1st mortgage bonds

International Transmission Co., or ITC Transmission, on Aug. 28 issued $75 million of its 3.30% series H first mortgage bonds due 2049 in a private placement.

Interest on the bonds is payable every Feb. 28 and Aug. 28, starting Feb. 28, 2020, according to a Form 8-K filing. The ITC Holdings Corp. subsidiary plans to use net proceeds from the issuance to refinance existing debt, partially fund capital expenditures and for general corporate purposes.

The Bank of New York Mellon Trust Co. NA served as trustee.