...ITR Concession Co. LLC, under a public-private transportation concession and lease agreement with the Indiana Finance Authority, will collect tolls and maintain the Indiana Toll Road for the concession's remaining life (about 65 years). The road is a 157-mile toll road that links the Chicago Skyway in the west to the Ohio Turnpike in the east. The route has 20 toll plazas and 8 travel plazas that are currently operational. The project will self-perform all maintenance and will rely solely on toll revenues to service debt and pay maintenance costs. In May 2015, IFM Global Infrastructure Fund (IFM) acquired the toll road, which filed chapter 11 bankruptcy in September 2014. IFM recently sold its 10% equity interest in the project to U.S. pension fund CalPERS, and about 2% to U.S. insurer Allstate. This is in addition to the A$140 million co-investment by CBUS Super, an Australian superannuation fund for the construction industry, in the project at the end of 2015. The road consists of two...
