Las Vegas Project Bond Sale Reduced

The size of the public bond sale that will finance a Las Vegas to Southern California high-speed rail project has been set at $2.4 billion.

Fortress Investment Group in announcing the sale said it will be the largest offering of unrated municipal securities.

It also acknowledged that the sale is $800,000 less than what it previously expected to sell.

The rail line will be operated by Brightline and extend from Las Vegas to Victorville, California.

Eventually, trains will reach Los Angele over tracks used by commuter rail agency Metrolink. The service has thus far been branded as Xpress West.

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