On the latest episode of the Debtwire Municipals Muni Lowdown podcast, Managing Editor Paul Greaves speaks with Reporters Kunal Kamal and Simone Baribeau about the high-speed rail project Brightline Florida.

Kunal starts with a breakdown of Brightline’s capital structure.

The discussion segues into Kunal providing background on the July bond interest payment deferral and what’s next on the refinancing calendar.

Kunal then explains what is a “soft, mandatory tender.”

Kunal concludes his comments by detailing the challenges faced by Brightline’s underlying business, ridership and revenue expectations.

The conversation shifts to Simone reporting back on her experience taking Brightline from Miami to Fort Lauderdale and traveling back on the route with a potential competitor in Tri-Rail.

The podcast concludes with Simone discussing whether Tri-Rail is a competitive threat and potential factors that could impact Brightline’s ridership numbers.

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