The document discusses an asset exchange between InfraREIT's regulated subsidiary SDTS, Sharyland, and Oncor Electric Delivery. SDTS will exchange approximately $400 million in distribution assets for $380 million in transmission assets and $20 million in cash from Oncor. This exchange will be accompanied by an agreement to dismiss SDTS and Sharyland's pending rate case, maintaining the existing regulatory framework until their next rate case in 2020. The exchange is expected to close in Q4 2017 pending regulatory approvals. The exchange will strategically focus InfraREIT's portfolio on transmission assets and benefit customers through reduced rates.