Brightline, which runs a 235-mile private railroad between Miami and Orlando, won’t be forced to buy back $985 million of municipal debt Tuesday after bondholders granted the company a deadline extension on related deal talks, according to people familiar with the matter.
The Fortress Investment Group-backed railroad previously had until Monday to provide bondholders more protection on the debt, which is backed by future commuter rail-access rights payable to Brightline by three South Florida counties. Details of the extension were not immediately clear, said the people who asked not to be identified because the discussions are private.
Brightline ...
