Posts Tagged ‘bond sales’

Las Vegas Rail Project Bond Sale Facing Delays

October 28, 2020

A proposed high-speed rail route between Las Vegas and Southern California has been rebranded as Brightline West.

In the meantime, a public sale of bonds to finance creation of the line has been delayed.

Construction of the line will be undertaken in six phases, split evenly between California and Nevada.

Construction under the current timeline is projected to start later this year and will include

most of the right-of-way not within the median of Interstate 15.

The middle and north sections, 45 and 51 miles, respectively, are projected to begin in the second quarter of 2021.

One Nevada segment is projected to start this year with two other segments to get underway in the second quarter of 2021.

A website devoted to the project said, though, that the timeline is subject to change and is contingent upon bonds being sold in California by Dec. 1.

The prospect of a delay increased this week when Fortress Investment Group delayed the pricing of $3.2 billion of municipal bonds it will seek to sell to finance the project.

Some observers said this may be a sign that investors were hesitant to finance what they view as a speculative project at a time of economic uncertainty.

No new date has been set for the bond sale.

Hearing Set on Virgin Trains Bond Sale

March 30, 2019

A Florida agency will hold a public hearing on April 5 to consider the plans of Virgin Trains USA to sell $1.5 billion in bonds that will be used to finance expansion to Tampa and Orlando.

The Florida Finance Corporation Board of Directors will consider arguments for and against the bond sale during a meeting in Orlando at the Hyatt Regency Hotel at the Orlando International Airport.

Opponents of the bond issue, most of them resident of Indian River County, are expected to speak against the sale.

That county, which lies on Virgin’s proposed route to Orlando, has long opposed expanding the formerly known Brightline service.

After public comments, the board is expected to vote on the bond sale.