Latest news with #BrightlineTrains
Bloomberg
11-07-2025
- Business
- Bloomberg
Florida's Brightline Train Defers Bond Payment as Woes Mount
Brightline Trains Florida, the private passenger railroad between Miami and Orlando, is deferring interest payments on some of its debt as it burns cash to offset lower-than-expected ridership and higher costs. The Fortress Investment Group -backed railroad plans to defer a July 15 interest payment on about $1.2 billion of 10% and 12% coupon tax-exempt bonds, according to Ashley Blasewitz, a spokesperson for Brightline.
Bloomberg
11-07-2025
- Business
- Bloomberg
Florida's Brightline Defers Interest Payment on $1.2 Billion Muni Bonds
Brightline Trains Florida, the Fortress Investment Group-backed passenger railroad, plans to defer a July 15 interest payment on its 10% and 12% unrated tax-exempt bonds, according to people familiar with the matter. Brightline notified holders of the delay through the Depository Trust Company, said the people who asked not to be identified because they're not authorized to speak publicly. The incident is not considered an event of default, according to bond documents. A default only occurs if the railroad misses three consecutive interest payments, the documents state.
Bloomberg
09-07-2025
- Business
- Bloomberg
Brightline Florida Plans $400 Million Bond Sale for Rail Line
Brightline Trains Florida, the junk-rated private passenger railroad connecting Miami and Orlando, plans to issue as much as $400 million of tax-exempt bonds to finance capital projects and an expansion to Tampa. Brightline is seeking preliminary approval to proceed with a hearing that would give the public an opportunity to comment on the rail company's request for so-called private-activity bonds, according to a memo to the Florida Development Finance Corp.
