Indiana Toll Road solicits consents to align indenture provisions

Chicago, Jan. 22 – The Indiana Toll Road through issuer ITR Concession Co. is soliciting consents on three notes to align the provisions of the indentures to correspond with corresponding provisions on senior secured debt issued subsequent to the issuance of the notes, according to a document from a source.

The notes, issued July 23, 2015, subject to the consent solicitation are the:

• $300 million outstanding 4.197% senior secured notes due 2025 (Cusips: U13070AA2, 450636AA3);

• $500 million outstanding 5.183% senior secured notes due 2035 (Cusips: U13070AC8, 450636AC9); and

• $250 million outstanding 5.283% senior secured notes due 2040 (Cusips: U13070AD6, 450636AD7).

The proposed amendments will change some of the terms under the following definitions in the indenture: consolidated EBITDA, consolidated net income, major maintenance reserve required amount, mandatory debt service, operating expenses, sponsor and terms under the section on mandatory redemption.

Noteholders holding more than half of the notes of each series need to consent for the proposed amendments to garner approval.

The record date is 5 p.m. ET on Jan. 19. The consent solicitation statement was sent to holders on Jan. 22.

The expiration time will be 5 p.m. ET on Jan. 30.

No consent fee will be paid.

D.F. King & Co., Inc. is the information and tabulation agent for the offer (800 669-5550, 212 269-5550, ITRCC@dfking.com)

The issuer has the exclusive right to operate, manage, maintain and toll the Indiana Toll Road as of April 12, 2006.

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