Brightline Rail System Seeks $3.2 Billion For Refinancing

Florida's high-speed rail system, Brightline, is looking to raise up to $3.2 billion from lenders to refinance its existing debt. The Fortress Investment Group-backed company plans to secure around $2.2 billion of investment-grade municipal bonds and $1 billion of junk bonds with high-single to low-double digit returns from the capital markets. Additionally, an estimated $1.6 billion in debt and equity may be sourced from Fortress or other investors. This move reflects the company's strategic approach to addressing its financial obligations and funding future expansion.