Brightline Defers Bond Payment While Seeking $400 Million for Tampa Line

Brightline Trains Florida, the Fortress Investment Group-backed private rail operator, said it will defer the July 15 interest payment on about $1.2 billion of its 10% and 12% unrated tax-exempt municipal bonds. The decision underscores continuing liquidity pressures less than a year after Brightline opened its Orlando–Miami high-speed corridor. At the same time, the company is asking the Florida Development Finance Corporation to authorize up to $400 million in new bonds to finance a 320-mile extension from Orlando to Tampa. A public hearing on the request is scheduled for July 17. Proceeds would cover design, construction and station upgrades, including work on the St. Lucie River bridge and facilities in Cocoa and Stuart. Separately, the North Central Texas Council of Governments approved $3.5 million to keep Amtrak’s Heartland Flyer running between Fort Worth and Oklahoma City for another year, averting a shutdown after state funding cuts. The lifeline highlights broader funding challenges facing U.S. passenger rail as operators juggle expansion ambitions with day-to-day financial needs.