Latest news with #passengerrailroad
Bloomberg
08-08-2025
- Business
- Bloomberg
Florida High-Speed Rail Offers Investors 15% Yield to Roll Debt
Brightline Train's Florida, the struggling private passenger railroad that runs from Miami to Orlando, is offering investors about a 15% tax-exempt yield to roll over $985 million of bonds next week. Buyers would get a 10% coupon and a premium on the next roll over date in June 2026, according to people familiar with the matter who asked not to be identified discussing private negotiations. The bonds are expected to price on Monday. The existing debt pays an 8.25% coupon.
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.
