ITR Concession Co. LLC

ITR Concession Co. LLC operates and maintains the Indiana Toll Road under a 75-year (61 years remaining) concession and lease agreement with the Indiana Finance Authority. The road is a 157-mile toll road that links the Chicago Skyway in the west to the Ohio Turnpike in the east. It has 20 toll plazas and eight travel plazas. The project self-performs all maintenance and relies solely on toll revenues to service debt and pay maintenance costs. In May 2015, IFM Global Infrastructure Fund (IFM) acquired the toll road, which had filed for Chapter 11 bankruptcy protection in September 2014. Subsequently, IFM sold a 15% equity interest in the project to U.S. pension fund CalPERS (10%), U.S. insurer Allstate (about 2%), and

...ITR Concession Co. LLC operates and maintains the Indiana Toll Road under a 75-year (61 years remaining) concession and lease agreement with the Indiana Finance Authority. The road is a 157-mile toll road that links the Chicago Skyway in the west to the Ohio Turnpike in the east. It has 20 toll plazas and eight travel plazas. The project self-performs all maintenance and relies solely on toll revenues to service debt and pay maintenance costs. In May 2015, IFM Global Infrastructure Fund (IFM) acquired the toll road, which had filed for Chapter 11 bankruptcy protection in September 2014. Subsequently, IFM sold a 15% equity interest in the project to U.S. pension fund CalPERS (10%), U.S. insurer Allstate (about 2%), and CBUS Super, an Australian superannuation fund for the construction industry (about 3%). The road consists of two distinct segments with different market dynamics. The 24 miles that run from the Chicago Skyway at the Illinois state line to the Portage toll plaza at Mile Marker...

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