Florida’s Brightline Train Defers Bond Payment as Woes Mount

Brightline Trains Florida, the private passenger railroad between Miami and Orlando, is deferring interest payments on some of its debt as it burns cash to offset lower-than-expected ridership and higher costs.

The Fortress Investment Group-backed railroad plans to defer a July 15 interest payment on about $1.2 billion of 10% and 12% coupon tax-exempt bonds, according to Ashley Blasewitz, a spokesperson for Brightline.