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Brightline files for bankruptcy with $490M restructuring deal

Brightline reaches restructuring agreement securing $490M in new capital

2 Yesterday 8:57 AM · 1d ago · 1 article · 1 source · development 2 of 4

Brightline announced a Restructuring Support Agreement with creditors including Assured Guaranty and bondholders that commits $490 million in new long-term capital ($140M senior debt, $350M junior debt) to improve liquidity and deleverage its balance sheet.

Brightline reaches restructuring agreement securing $490M in new capital
Philadelphia Inquirer

“Brightline is a critical part of Florida's transportation network that has changed the way people move around the state. Today's agreement brings $490 million in new long-term capital to Brightline from the stakeholders who know this business.”

Patrick Goddard

Brightline (Brightline Trains Florida LLC) Private high-speed rail operatorPatrick Goddard Brightline Florida CEOFortress Investment Group Private equity backerAssured Guaranty Bond insurer and creditorTim Hynes Head of Global Credit Research, Debtwire

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2–4Brightline reaches restructuring…
Sep 24yesterdaytodaynow · 3:16 PM ET

What was reported 1 claim about this development

  1. 1 outlet Brightline reaches restructuring deal that will give it $490M in new capital, help lower debt

    first by Philadelphia Inquirer, 1d ago

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