Brightline has been given the go-ahead to sell up to $1.75 bonds from a Florida board.
$1.15b in funds will allow for a West Palm Beach to Orlando leg to start construction, with the remaining $600m to refinance the Miami-West Palm Beach leg.
Last year’s $600M Brightline bond sale was oversubscribed, receiving $2.26B in orders. That bodes well for future debt sales.
Brightline is also now considering station location on the Treasure Coast and Space Coast. Cities have been requested to respond with proposals within 60 days, according to TCPalm.
The four cities on the Treasure Coast that are being considered are Stuart, Fort Pierce, Sebastian and Vero Beach. It isn’t known which Space Coast cities are being considered.
Construction to Orlando is expected to begin within months.