U.S., California/Nevada: Fortress Delays Pricing of $3.2 Billion Vegas Train Deal

By Romy Varghese, Bloomberg; October 14, 2020

Fortress Investment Group delayed the pricing of $3.2 billion of municipal bonds to build a passenger railroad between southern California and Las Vegas, a sign that investors were hesitant to finance such a speculative project at a time of deep economic uncertainty.

The company boosted the equity contribution to the project by $500 million, among other changes, according to updated documents released Wednesday.

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