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.