All Aboard Florida gets time to sell bonds for Orlando stretch

All Aboard Florida got another break from an indulgent federal government last week when the U.S. Department of Transportation granted the company more time to issue $1.15 billion of Private Activity Bonds to finance the second phase of its high-speed passenger rail service.

“This propels our project as we extend Brightline to Orlando, developing a transportation network that will benefit the entire state,” said Brightline President Patrick Goddard.
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The tax-exempt bonds were allocated in December and set to expire May 31. So far, investors have not rushed to buy the bonds. The seven-month extension through the end of the year was granted on the condition that the company continue to seek alternative financing.

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