Assured Guaranty backs Brightline Florida restructuring with $490 million capital package
AGO•Assured Guaranty joined a restructuring support agreement tied to Chapter 11 filings at certain Brightline Florida entities, outlining $490 million of new capital at exit. Assured Guaranty committed $70 million of additional senior debt and up to $178 million of post-petition funding.
1. Restructuring financing
The agreement outlines $490 million of new capital at exit, including $140 million of additional senior debt pari passu with existing senior debt. Assured Guaranty committed $70 million of that debt and agreed to provide up to $178 million of $258 million in post-petition funding arranged by stakeholders. Brightline Trains Florida, obligor on Assured Guaranty-insured tax-exempt senior bonds, did not file, and payment obligations on those bonds remain unchanged.
