High debt levels fund Macquarie's Indiana road deal
Macquarie Infrastructure Group (MIG) will fund its share of the 75-year toll road lease with 80% debt.
Macquarie BankÆs appetite for deals continues apace with the signing last week of a 75-year lease on the Indiana Toll Road worth $3.8 billion. The deal, in conjunction with 5050 joint venture partner Spanish company, Cintra, is the largest highway privatisation lease signed in the US.
Macquarie is said to be paying for its half of the toll road with A$512 million of equity and the rest, approximately A$2.17 billion, in debt. And with a financial close due...
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