Brightline Seeks Private Activity Bonds for Tampa Extension: Analysis

Brightline tells bondholders it will be late on interest payment

Brightline, the high-speed railroad that runs between South and Central Florida, will be late with a scheduled July 15 interest payment to investors who hold tax-exempt bonds that were issued last year, the company confirmed Friday. The unrated bonds, which command 10% and 12% interest rates, were sold through the Florida Development Finance Corp., which reportedly is about to consider another $400 million borrowing for Brightline to expand to T…

Brightline seeks private activity bonds for Tampa extension: Analysis

A route for a rail line to Tampa from Orlando in the median of Interstate 4 has been preserved despite highway improvements, as seen during this reconstruction project at Exit 48 near Polk City, Fla., on Feb. 10, 2023. Bob Johnston ORLANDO, Fla. — Brightline has petitioned the Florida Development Finance Corp., seeking to have the state agency issue up to $400 million of private activity bond funding to advance design and planning for its long-s…