Brightline West’s private activity bond sale far exceeded expectations, signaling investor confidence in the Las Vegas-to-Southern California high-speed rail project.
With plans for the start of heavy construction on the more than $12 billion project later this year, Brightline West is getting financing in place to build the 218-mile, high-speed rail line, associated stations and maintenance facilities.
The first step was Brightline selling a combined $2.5 billion private activity bonds from California and Nevada. Put out to the market last month, the offering saw greater demand than initially expected, because of favorable bond rates for investors, according to Nevada Department of Transportation Director Tracy Larkin Thomason.
