The Wall Street Journal is reporting the Indiana Toll Road is again facing pressure from bondholders, with its controlling partners facing a possible debt restructuring, perhaps in Chapter 11 bankruptcy.
The Journal in an article last week cited people familiar with the matter in reporting a European bank recently sold $500 million of Indiana Toll Road debt to outside investors for 60 cents on the dollar.
A Spanish firm, Cintra, and Macquarie Group paid the state of Indiana $3.8 billion in 2006 in exchange for the right to operate the 157-mile road and collect all tolls for 75 years…Please click here to read Keith Benman’s story in the Times.