Assured Guaranty issues statement on Brightline Florida financial restructuring
AGO•Assured Guaranty said Brightline Trains Florida has not filed for Chapter 11 and its AG-insured senior bond obligations are unchanged. A restructuring support agreement would provide OpCo $490 million in new capital, including up to $178 million from Assured Guaranty as part of $258 million in post-petition funding, plus $70 million of additional senior debt from Assured Guaranty.
1. Restructuring funding
Assured Guaranty said Brightline Trains Florida has not filed for Chapter 11 and that AG-insured senior bond obligations are unchanged. The restructuring support agreement would provide OpCo $490 million in new capital; stakeholders would provide $258 million in post-petition funding, including up to $178 million from Assured Guaranty, which also committed to provide $70 million of additional OpCo senior debt.
