Brightline Bondholders Grant Extension on Debt Payment (1)

Brightline Trains Florida LLC, the struggling $6 billion private railroad between Miami and Orlando, struck a deal with holders of $985 million of municipal bonds to extend a debt payment due Monday through the end of the month, according to a securities filing.

In addition, holders of the 12% coupon bonds — backed by future commuter-rail access rights payable to Brightline by three South Florida counties — waived a default for a new $22.2 million borrowing by Brightline on May 21. The filing didn’t say who provided the loan, which was made without the consent of the commuter ...