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Press Releases/ Brightline Names Christin...

Brightline Names Christine Kefauver Senior Vice President of Corporate Development

March 15, 2021

Orlando, Fla., Brightline Trains has announced Christine Kefauver as senior vice president of corporate development. Kefauver will lead Brightline’s government affairs and community outreach in Central Florida where the company is under construction to expand its service to Orlando International Airport. Brightline is also negotiating with the Florida Department of Transportation (FDOT) on an expansion to Tampa.

 

“Christine is the right leader for Brightline to build a strong and active presence in Central Florida,” said Patrick Goddard, president of Brightline. “Christine understands the history and future opportunities of the region and has built a strong reputation with all those involved in effecting change within the transportation sector.”

 

“The transportation industry is changing rapidly and there is no better example than Brightline’s effort to connect Florida with high-speed rail,” said Kefauver. “I’m excited to jump on board and look forward to building a transportation system and network that will accelerate Central Florida’s mobility plans and continue to make Florida our nation’s most competitive state.”

 

Kefauver served as the transportation policy advisor for Mayor Buddy Dyer at the City of Orlando for seven years, playing a key part in advancing Central Florida's first commuter rail line, SunRail. Kefauver has been involved in Central Florida transportation initiatives for over 30 years and recognizes the power of partnerships, having built wide-ranging coalitions while working closely with FDOT, LYNX, The Orlando Economic Partnership, MetroPlan Orlando and Orlando International Airport.

 

Prior to joining Brightline, Kefauver worked as the operations lead for Florida, Alabama and Mississippi for HDR Engineering. Managing a team of more than 600, she was accountable for all of transportation, water, power and construction services. During the past two years at HDR, Christine was the National Urban Market Development Director for both of the Engineering and Architecture lines of business.

 

An active member of the community, Kefauver served nine years on the Coalition for the Homeless in Central Florida and is a past President of WTS Central Florida.

 

--END--

 

ABOUT BRIGHTLINE

Brightline is the first privately funded passenger rail system in America in over a century and was recognized by Fast Company as one of the Most Innovative Companies in travel. Brightline is designed to reinvent travel and take cars off the road by connecting city pairs and congested corridors that are too close to fly and too long to drive. Providing fast, efficient, hospitality-driven transportation featuring the latest in customer-friendly amenities, Brightline currently operates in Florida between Miami, Fort Lauderdale and West Palm Beach, with plans to develop new stations in Boca Raton, Aventura and Port Miami. Construction to Orlando is underway and will be complete in late 2022. Brightline West, which will connect Las Vegas and Southern California, is shovel ready and expects to launch service in 2024.

 

Press Releases/ Brightline First in North...

Brightline First in North America to Construct Rail Underpass Under Highway System Using Innovative Box-Jacking Method

March 8, 2021

Orlando, Fla. – Brightline Trains will make construction history when it builds a rail underpass under SR 528 in Brevard County, becoming the first in North America to use the innovative box-jacking method under a highway system and the first to do so under live traffic.

 

The SR 528 tunnel, located just west of US-1, will be constructed over a two-week span using box-jacking. The method uses hydraulic jacks to move precast concrete boxes into place, creating a tunnel under the roadway. An anti-drag system will be used when installing the boxes to allow for traffic to continue to travel overtop the work.

 

The SR 528 box-jacking project begins on Sunday, March 14 and will last through Tuesday, March 30.

During this time, the highway will be reduced to one lane in each direction and some entrance and exit ramps will be closed to reduce congestion on the highway. Full detours of SR 528 will be limited to overnight hours at the start and finish of the project.

 

“In order to build an underpass under SR 528, a busy highway which is a gateway to Florida beaches, we knew we had to come up with a way to minimize the impact on this roadway and the travelling public,” said Michael Cegelis, Executive Vice President, Development and Construction, Brightline. “We strive to use the newest technologies to build high-speed rail in America and our general contractor Granite found, investigated, and proposed this box-jacking concept. Box-jacking will enable us to accomplish in 15 days what would otherwise take up to a year using traditional construction methods.”

 

Granite, who built the concrete box segments, will jack them into place with support from specialty subcontractor Petrucco. The Italy-based Petrucco has successfully completed thousands of box-jacking operations worldwide.

 

The box-jacking system will use hydraulic jacks to push three precast concrete boxes, each weighing between 3,300 and 4,600 tons under SR 528. The installation will progress at approximately three feet per hour and will take between 40 and 50 workers working 12-hour shifts to keep the operation running 24/7.  The underpass, once constructed, will measure 31-feet high by 43-feet wide, will be the length of a football field and will accommodate two trains side-by-side. The underpass will allow Brightline to travel between South Florida and Central Florida and pass under SR 528, eliminating the need for a railroad crossing.

 

The Petrucco box-jacking method, while commonly used in Europe and around the globe for rail construction, has seen limited use in North America. It was first used in the United States on the Long Island Railroad expansion project in New York City. The SR 528 project will mark the fifth use of this method in North America and the second on the Brightline high-speed rail project to Orlando. In September 2020, Brightline became the first to use box-jacking outside of the northeast when it built an underpass under Goldenrod Rd. in just nine days. Traditional underpass construction would have shut down the roadway for nearly a year. 

 

The box-jacking work is part of Brightline’s Orlando extension project which covers 170-miles from West Palm Beach to Orlando International Airport and will connect Miami to Orlando via high-speed rail.  Construction of the $2.7B project is expected to be completed in late 2022. Railroad construction information can also be found online at https://www.gobrightline.com/railroad-construction.

 

Brightline construction videos and photos available for download at the following links:

 

Dimensions / weight of boxes:

Box 1: 137 ft. x 31 ft., 4,400 tons

Box 2: 110 ft. x 31 ft., 4,600 tons

Box 3: 101 ft. x 31 ft., 3,300 tons


MEDIA CONTACT:

Katie Mitzner

407-502-3587

katie.mitzner@gobrightline.com

 

SR 528 CLOSURES and DETOURS

LANE CLOSURES

Eastbound and westbound SR 528 (from Industry Rd. to US-1)

Full road closure with detour:

  • 10 p.m., Sunday, March 14 to 5 a.m., Monday, March 15
  • 10 p.m., Monday, March 29 to 5 a.m., Tuesday, March 30

Detour Information:

  • Eastbound SR 528 traffic will be directed to exit at Clearlake Rd. (Exit 45), travel south on Industry Rd. to SR 524, travel east on SR 524/Clearlake Rd. and follow south to SR 520, travel east on SR 520 to US-1 and travel north on US-1 to access eastbound SR 528.
  • Westbound SR 528 traffic will be directed to exit at US-1 (Exit 46), travel south on US-1 to SR 520, travel west on SR 520 to Clearlake Rd., travel north on Clearlake Rd. to Industry Rd. and travel north on Industry Rd. to access westbound SR 528.

Eastbound and westbound SR 528 (from Industry Rd. to US-1)

Single lane closure in each direction, 5 a.m., Monday, March 15 through 10 p.m., Monday, March 29.

  • Traffic will be shifted to west side of SR 528 and will be reduced to one lane in each direction. As work progresses, traffic will be shifted from the westbound to the eastbound side of SR-528 remaining in one lane in each direction.

RAMP CLOSURES:

Northbound Industry Rd. entrance ramp to eastbound SR 528

Full ramp closure, 10 p.m., Sunday, March 14 to 5 a.m., Tuesday, March 30.

Detour Information:

  • Northbound Industry Rd. traffic wishing to travel east on SR 528 will be directed to travel south on Industry Rd. to SR 524, travel east on SR 524 to Clearlake Rd., travel south on Clearlake Rd. to SR 520, travel east on SR 520 to US-1 and travel north on US-1 to access eastbound SR 528.

Northbound US-1 entrance ramp to westbound SR 528

Full ramp closure, 10 p.m., Sunday, March 14 to 5 a.m., Tuesday, March 30.

Detour Information:

  • Northbound US-1 traffic wising to travel west on SR 528 will be directed to travel south on US-1 to SR 520, travel west on SR 520 to Clearlake Rd., travel north on Clearlake Rd. to Industry Rd. and travel north on Industry Rd. to access westbound SR 528.

Eastbound SR 528 exit ramp to northbound US-1 (Exit 46)

Full ramp closure, 10 p.m., Sunday, March 14 to 5 a.m., Tuesday, March 30.

Detour Information:

  • Eastbound SR 528 traffic wishing to travel north on US-1 will be directed to exit early at Industry Rd./Clearlake Rd. (Exit 45), travel south on Industry Rd. to SR 524, travel east on SR 524 to Clearlake Rd., travel south on Clearlake Rd. to SR 520, travel east on SR 520 to US-1 and travel north on US-1 to access eastbound SR 528.

SR-528 Eastbound and Westbound Detour

 

About Brightline

Brightline is the first privately funded passenger rail system in America in over a century and was recognized by Fast Company as one of the Most Innovative Companies in travel. Brightline is designed to reinvent travel and take cars off the road by connecting city pairs and congested corridors that are too close to fly and too long to drive. Providing fast, efficient, hospitality-driven transportation featuring the latest in customer-friendly amenities, Brightline currently operates in Florida between Miami, Fort Lauderdale and West Palm Beach, with plans to develop new stations in Boca Raton, Aventura and Port Miami. Construction to Orlando is underway and will be complete in late 2022. Brightline West, which will connect Las Vegas and Southern California, is shovel ready and expects to launch service in 2024.

###

Press Releases/ Brightline Names Mike Rei...

Brightline Names Mike Reininger Chief Executive Officer of Brightline Holdings

March 4, 2021

Miami, Fla. -- Brightline Trains, the country’s first privately funded high-speed rail company in more than a century, announced the appointment of Mike Reininger as chief executive officer of Brightline Holdings. The new holding company will oversee strategy for the company across various geographies and advance plans for expansion into new markets with new systems and a fully integrated mobility offering aligned with the needs and sensibilities of the modern American traveler.

In 2018, Brightline Florida launched its initial phase of operations, showcasing high speed rail’s potential in the United States. Brightline carried over one million guests in its first full calendar year as it refined the notion of mobility in downtown environments. Brightline is preparing to relaunch service in 2021.

Reininger is a familiar face at Brightline, having served as the president and chief development officer from 2012 to 2018. Under his leadership, Brightline launched and completed development of its phase one system from Miami to West Palm Beach, including stations in Miami, Fort Lauderdale and West Palm Beach. Reininger initiated Brightline’s transformational renaissance of Downtown Miami with MiamiCentral, an 11-acre mixed-use urban experience that includes a food hub, 800+ residences, commercial towers and a multi-modal transportation center. 

Reininger joins a strong management team that has helped position Brightline and Brightline West for growth. Patrick Goddard will continue to lead Brightline’s Florida business as president, overseeing the company’s operations and commercial efforts. Sarah Watterson will continue to serve as Brightline’s chief development officer and president of Brightline West.

“We’re excited to welcome Mike back to Brightline and the timing could not be better as we look to break ground on Brightline West and expand to new markets,” said Wes Edens, chairman of Brightline and co-founder of Fortress Investment Group. “Mike’s track record in the financial markets and as a major developer, position Brightline for success at a pivotal time for high-speed rail and infrastructure investments in America.”

The high-speed rail company seeks to connect city pairs that are too short to fly and too far to drive. Brightline is currently under construction to the Orlando International Airport, which would start in Miami and span 235 miles. Brightline is already planning a third extension to Tampa that would include an inline station at Walt Disney World Resort’s Disney Springs. Brightline entered into a lease agreement with Disney in 2020 and is negotiating with the Florida Department of Transportation on the complete Tampa extension.

Brightline West is the company’s first expansion outside of Florida and will connect Las Vegas to the greater Los Angeles Metro Area. The project would utilize fully electric, zero emission train sets with top speeds of 200 miles per hour making it the greenest form of transportation in the country. Brightline plans to build the rail line in the median of the I-15 highway and has secured a right-of-way agreement with CALTRANS and NDOT.

“With a proof of concept established at Brightline, it is an honor to work with the talented leadership team already in place to help advance the vision for a mobility solution that is efficient, sustainable, technology driven and most of all – enjoyable,” said Reininger. “With the singular knowledge base and experience gained over the last 10 years, and with an eye toward car-free travel experiences, I look forward to seeing service reinstated in Florida and the wealth of opportunities that will follow.”

Reininger brings more than three decades of experience in the development of major projects and the start-up of unique companies to Brightline. Prior to 2012, Reininger delivered some of the world’s most iconic projects while working with the Walt Disney Company, including several resort hotels, the initiation of the Disney Vacation Club, EuroDisney Resort in Paris and the launch of the Disney Cruise Line. Reininger was also the managing director of the Union Station Neighborhood Company where he led the effort to transform Denver’s Union Station and its downtown rail yard into a modern multi-modal transportation hub. Most recently he was the chief executive officer of Qiddiya Investment Company, developing one of the world’s largest entertainment, sports and cultural destinations.

--END--

CONTACT:     Ben Porritt

EMAIL:            ben@gobrightline.com

 

ABOUT BRIGHTLINE

 

Brightline is the first privately funded passenger rail system in America in over a century and was recognized by Fast Company as one of the Most Innovative Companies in travel. Brightline is designed to reinvent travel and take cars off the road by connecting city pairs and congested corridors that are too close to fly and too long to drive. Providing fast, efficient, hospitality-driven transportation featuring the latest in customer-friendly amenities, Brightline currently operates in Florida between Miami, Fort Lauderdale and West Palm Beach, with plans to expand to Orlando. The company’s second corridor will connect Las Vegas to Southern California and is expected to break ground this year.

 

 

Press Releases/ Brightline Announces Expi...

Brightline Announces Expiration and Results of its Debt Tender Offers

December 21, 2020

Miami, Fla.-- Brightline Holdings LLC (the “Company” or “Brightline”) today announced the expiration and results for its previously announced tender offers (the “Tender Offers”) to purchase for cash up to an Aggregate Maximum Repurchase Amount of $225,220,000 (increased from $225,000,000) for the securities listed in the table below (collectively, the “Securities”), exclusive of Accrued Interest. The Company increased the Tranche Tender Cap for the 2024 Tranche to $75,045,000 (from $75,000,000) and for the 2029 Tranche to $150,175,000 (from $150,000,000) and correspondingly the Aggregate Maximum Repurchase Amount as set forth above. Such increases were made so that the Company will purchase $225 million aggregate principal amount of the Securities after giving effect to the proration terms outlined in the Offer to Purchase (as defined below). The Tender Offers were made pursuant to the terms and conditions set forth in the offer to purchase, dated November 30, 2020 (the “Offer to Purchase”). Capitalized terms used but not defined in this press release have the meanings given to them in the Offer to Purchase.

As of the previously announced expiration date and time of 11:59 p.m., New York City time, on December 18, 2020 (the “Expiration Date”), according to information provided by Globic Advisors, the tender and information agent for the Tender Offers, a total of $1,150,835,000 aggregate principal amount of Securities had been validly tendered and not validly withdrawn in the Tender Offers. Withdrawal rights for the Securities expired at 11:59 p.m., New York City time, on December 18, 2020. The table below sets forth the aggregate principal amount and percentage of the Securities validly tendered and not validly withdrawn by the Expiration Date that will be accepted for purchase by the Company.

Security(a)(b)

Mandatory Tender Date

CUSIP Number

Principal Amount Previously Outstanding

Tranche Tender Cap

Principal

Amount

Tendered

Percent Tendered of Amount Outstanding

Principal Amount to be Purchased(c)

Tender Offer Consideration(d)

6.250% Series 2019A Bonds due 2049

(the “2024 Tranche”)

January 1, 2024

34061YAB6

$250,000,000

$75,045,000

 

 

$207,580,000

 

 

83.03%

 

 

$75,000,000

$1,000.00

6.500% Series 2019A Bonds due 2049

(the “2029 Tranche”)

January 1, 2029

34061YAD2

$1,000,000,000

$150,175,000

 

 

$943,255,000

 

 

94.33%

 

 

$150,000,000

$1,000.00

(a)     Each tranche of Securities is part of the $1.75 billion Florida Development Finance Corporation Surface Transportation Facility Revenue Bonds (Brightline Florida Passenger Rail Project), Series 2019A issued by the Florida Development Finance Corporation (“FDFC”), pursuant to an Indenture of Trust, dated as of April 18, 2019 (as amended and supplemented, the “Indenture”), between the FDFC and Deutsche Bank National Trust Company, as trustee (the “Trustee”). The proceeds of the Securities were loaned to Brightline Trains Florida LLC (f/k/a Virgin Trains USA Florida LLC) (the “Florida PABs Borrower”) pursuant to a senior loan agreement.

(b)     The offers with respect to each tranche of Securities were subject to an Aggregate Maximum Repurchase Amount of up to $225,220,000.  The Company, the indirect parent of the Florida PABs Borrower, will not allocate the Aggregate Maximum Repurchase Amount between the tranches of Securities. Each tranche of Securities was subject to the applicable Tranche Tender Cap independent of the other Tranche Tender Cap.

(c)     Reflects the aggregate principal amount of Securities to be purchased after giving effect to the proration terms in the Offer to Purchase.

(d)     The Tender Offer Consideration for Securities validly tendered prior to or at the Expiration Date and accepted for purchase is per $1,000 principal amount. No additional tender consideration will be payable. No offer to purchase was made for the 6.375% Series 2019A Bonds due 2049 (CUSIP number 34061YAC4).

Payment for the Securities that are validly tendered prior to or at the Expiration Date and that are accepted for purchase will be made on December 23, 2020 (the “Settlement Date”).

The “Tender Offer Considerationfor each $1,000 principal amount of each tranche of Securities validly tendered and accepted for purchase pursuant to the applicable Tender Offers is specified on the table above, which consideration is 100% of the principal amount for both tranches of Securities. No additional tender consideration will be payable. Only holders of the Securities who validly tendered and did not validly withdraw their Securities at or prior to the Expiration Date are eligible to receive the Tender Offer Consideration for any such Securities accepted for purchase.  

Holders will also receive accrued and unpaid interest on Securities validly tendered and accepted for purchase from the last interest payment date to, but not including, the applicable Settlement Date  (“Accrued Interest”).

Brightline expects to fund the Tender Offers using cash on hand and the proceeds of short-term financing provided by Morgan Stanley & Co. LLC. The Tender Offers are being made in connection with the remarketing by Brightline Trains Florida LLC, a Delaware limited liability company and a subsidiary of the Company (the “Florida PABs Borrower”), of $950,000,000 Florida Development Finance Corporation Surface Transportation Facility Revenue Bonds (Brightline Florida Passenger Rail Project), Series 2019B issued by the FDFC (the “Series 2019B Remarketing”). The Settlement Date for the Tender Offers is also the closing date for the Series 2019B Remarketing.  The Series 2019B Remarketing is a separate financing transaction from the Tender Offers.

            As previously announced, each of the Tender Offers is conditioned upon, among other things, (i) the receipt by the Company or the availability of sufficient funds (as determined in the Company’s reasonable discretion) to pay the Tender Offer Consideration plus Accrued Interest on the applicable Settlement Date and (ii) the Company having obtained the consent of the required lenders under any applicable financing documents to permit the consummation of the Tender Offers.     

Information Relating to the Tender Offers

Morgan Stanley & Co. LLC is the dealer manager for the Tender Offers. Investors with questions regarding the Tender Offers may contact Morgan Stanley & Co. LLC at (212) 296-3049. Globic Advisors is the tender and information agent for the Tender Offers. The Offer to Purchase may be obtained from Globic Advisors, free of charge, by calling toll-free at (800) 974-5771 (bankers and brokers can call collect at (212) 227-9622) or emailing rstevens@globic.com.     

This press release is for informational purposes only and is not an offer to buy, or the solicitation of an offer to sell, any of the Securities and the Tender Offers did not constitute offers to buy or the solicitation of offers to sell Securities in any jurisdiction or in any circumstances in which such offers or solicitations were unlawful. The full details of the Tender Offers are included in the Offer to Purchase. Holders are strongly encouraged to read carefully the Offer to Purchase and the information or documents filed by the Florida PABs Borrower on emma.msrb.org because they contain important information.

Forward-Looking Statements

Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are generally identified by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” “target,” “projects,” “contemplates” or the negative version of those words or other comparable words. The inclusion of any forward-looking information should not be regarded as a representation by the Company that the future plans, estimates or expectations contemplated by the Company will be achieved. Forward-looking statements are not historical facts, but instead represent only the Company’s belief as of the date of this press release regarding future events, many of which, by their nature, are inherently uncertain and outside of the Company’s control. These risks include but are not limited to the Company’s ability to complete any of the Tender Offers (including obtaining the required consents under any applicable financing documents) and the Florida PABs Borrower’s ability to complete the Series 2019B Remarketing. Furthermore, new risks and uncertainties arise from time to time, some of which may be beyond the Company’s control, and it is not possible for the Company to predict those events or how they may affect the Company. Except as may be required by law, the Company and its affiliates assume no duty to update or revise its forward-looking statements based on new information, future events or otherwise.

About Brightline

Brightline is the first privately funded passenger rail system in America in over a century and was recognized by Fast Company as one of the Most Innovative Companies in travel. Brightline is designed to reinvent travel and take cars off the road by connecting city pairs and congested corridors that are too close to fly and too long to drive. Providing fast, efficient, hospitality-driven transportation featuring the latest in customer-friendly amenities, Brightline currently operates in Florida between Miami, Fort Lauderdale and West Palm Beach, with plans to develop new stations in Boca Raton, Aventura and Port Miami. Construction to Orlando is underway and will be complete in late 2022. Brightline West, which will connect Las Vegas and Southern California, is shovel ready and expect to launch service in 2024.

Media Contact              Ben Porritt, (703) 981-2712

Investor Contact           Alexandra Levin, (516) 400-7343

Press Releases/ Brightline Announces Exte...

Brightline Announces Extensions of its Debt Tender Offers

December 11, 2020

Miami, Fla. -- Brightline Holdings LLC (the “Company” or “Brightline”) today announced that it has extended the Expiration Date and Withdrawal Deadline (each as defined in the Offer to Purchase, as defined below) for its previously announced tender offers to purchase for cash (the “Tender Offers”) up to an aggregate maximum repurchase amount of $250 million for the 6.250% Series 2019A Bonds due 2049, CUSIP number 34061YAB6 (the “2024 Tranche”) and the 6.500% Series 2019A Bonds due 2049, CUSIP number 34061YAD2 (the “2029 Tranche” and, together with the 2024 Tranche, the “Securities”), each of which is part of the $1,750,000,000 Florida Development Finance Corporation Surface Transportation Facility Revenue Bonds (Brightline Passenger Rail Project), Series 2019A issued by the Florida Development Finance Corporation (“FDFC”).

 

The Expiration Date and Withdrawal Deadline, each of which was previously scheduled for 11:59 p.m., New York City time, on December 11, 2020, have both been extended to 11:59 p.m., New York City time, on December 18, 2020, unless earlier terminated or further extended by the Company. The Settlement Date (as defined in the Offer to Purchase) will be announced promptly following the Expiration Date. Except as expressly modified by this press release, the terms and conditions of the Tender Offers in the Offer to Purchase, dated November 30, 2020 (the “Offer to Purchase”) remain unchanged, but the Company reserves the right to further extend, amend or terminate one or both Tender Offers. Capitalized terms used and not defined in this press release have the respective meanings given to them in the Offer to Purchase.

 

As previously announced, the Tender Offers are being made in connection with a separate financing transaction (the “Brightline Florida Financing”) being undertaken by Brightline Trains Florida LLC, a Delaware limited liability company and a subsidiary of the Company (the “Florida PABs Borrower”). Each of the Tender Offers is conditioned upon, among other things, (i) the receipt by the Company or the availability of sufficient funds (as determined in the Company’s reasonable discretion) to pay the Tender Offer Consideration plus Accrued Interest on the applicable Settlement Date and (ii) the Company having obtained the consent of the required lenders under any applicable financing documents to permit the consummation of the Tender Offers.

 

Information Relating to the Tender Offers

Morgan Stanley & Co. LLC is the dealer manager for the Tender Offers. Investors with questions regarding the Tender Offers may contact Morgan Stanley & Co. LLC at (212) 296-3049. Globic Advisors is the tender and information agent for the Tender Offers. The Offer to Purchase may be obtained from Globic Advisors, free of charge, by calling toll-free at (800) 974-5771 (bankers and brokers can call collect at (212) 227-9622) or emailing rstevens@globic.com.

 

None of the Company or its affiliates (including the Florida PABs Borrower), their respective boards of directors, the dealer manager, the tender and information agent, the FDFC or the Trustee is making any recommendation as to whether holders should tender any Securities in response to any of the Tender Offers, and neither the Company nor any such other person has authorized any person to make any such recommendation. Holders must make their own decision as to whether to tender any of their Securities, and, if so, the principal amount of Securities to tender.

This press release is for informational purposes only and is not an offer to buy, or the solicitation of an offer to sell, any of the Securities and the Tender Offers do not constitute offers to buy or the solicitation of offers to sell Securities in any jurisdiction or in any circumstances in which such offers or solicitations are unlawful. The full details of the Tender Offers, including complete instructions on how to tender Securities, are included in the Offer to Purchase. Holders are strongly encouraged to read carefully the Offer to Purchase and the information or documents filed by the Florida PABs Borrower on emma.msrb.org because they contain important information.

Forward-Looking Statements

Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are generally identified by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” “target,” “projects,” “contemplates” or the negative version of those words or other comparable words. The inclusion of any forward-looking information should not be regarded as a representation by the Company that the future plans, estimates or expectations contemplated by the Company will be achieved. Forward-looking statements are not historical facts, but instead represent only the Company’s belief as of the date of this press release regarding future events, many of which, by their nature, are inherently uncertain and outside of the Company’s control. These risks include but are not limited to the Company’s ability to complete any of the Tender Offers (including obtaining the required consents under any applicable financing documents) and the Florida PABs Borrower’s ability to complete the Brightline Florida Financing. Furthermore, new risks and uncertainties arise from time to time, some of which may be beyond the Company’s control, and it is not possible for the Company to predict those events or how they may affect the Company. Except as may be required by law, the Company and its affiliates assume no duty to update or revise its forward-looking statements based on new information, future events or otherwise.

About Brightline

Brightline is the first privately funded passenger rail system in America in over a century and was recognized by Fast Company as one of the Most Innovative Companies in travel. Brightline is designed to reinvent travel and take cars off the road by connecting city pairs and congested corridors that are too close to fly and too long to drive. Providing fast, efficient, hospitality-driven transportation featuring the latest in customer-friendly amenities, Brightline currently operates in Florida between Miami, Fort Lauderdale and West Palm Beach, with plans to develop new stations in Boca Raton, Aventura and Port Miami. Construction to Orlando is underway and will be complete in late 2022. Brightline West, which will connect Las Vegas and Southern California, is shovel ready and expect to launch service in 2024.

 

Media Contact              Ben Porritt, (703) 981-2712

 

Investor Contact           Alexandra Levin, (516) 400-7343

Press Releases/ Walt Disney World and Bri...

Walt Disney World and Brightline Enter Into Agreement Regarding Brightline Station at Disney Springs

November 23, 2020

MIAMI, Fla. – Today, Brightline and Walt Disney World Resort announced they have entered into an agreement to construct a train station at Disney Springs, the popular shopping, dining and entertainment complex.  The Brightline station is intended to provide a convenient, car-free travel option between Walt Disney World Resort and Brightline stations at Orlando International Airport (OIA), Miami, Fort Lauderdale and West Palm Beach and planned stations in Aventura, Boca Raton and Port Miami. Brightline’s expansion from West Palm Beach to OIA is on track to be completed in 2022.  The agreement is conditioned upon Brightline’s satisfaction of certain obligations including obtaining all necessary government approvals.  

 

The design concept for the proposed station at Disney Springs at Walt Disney World Resort includes a lobby on the ground level, passenger facilities and an upper level train platform. The proposed location would be in close proximity to Walt Disney World Resort’s four theme parks, two water parks and more than 25 hotels. 

  

“Brightline will offer a car-free connection to the millions of visitors from around the state and the world who plan to make Walt Disney World Resort part of their vacation plans,” said Patrick Goddard, president of Brightline. “Our mission has always been to connect our guests to the people and places that matter, and Walt Disney World Resort is a tremendous example of this.”

 

“We’re excited to work with Brightline as they pursue the potential development of a train station at Walt Disney World Resort, a project that would support our local economy and offer a bold, forward-looking transportation solution for our community and guests,” said Jeff Vahle, president of Walt Disney World Resort.

 

In 2018, Brightline was awarded the right to execute lease agreements with FDOT and the Central Florida Expressway Authority to connect OIA and Tampa. In February 2020, Brightline commenced engineering and design work for the proposed project. 

--END--

 

CONTACT:    Katie Mitzner

EMAIL:           katie.mitzner@gobrightline.com

 

CONTACT:     Erica Ettori      

                        Erica.l.ettori@disney.com

 

 

ABOUT BRIGHTLINE

Brightline is the first privately funded passenger rail system in America in over a century and was recognized by Fast Company as one of the Most Innovative Companies in travel. Brightline is designed to reinvent travel and take cars off the road by connecting city pairs and congested corridors that are too close to fly and too long to drive. Providing fast, efficient, hospitality-driven transportation featuring the latest in customer-friendly amenities, Brightline currently operates in Florida between Miami, Fort Lauderdale and West Palm Beach, with plans to develop new stations in Boca Raton, Aventura and Port Miami. Construction to Orlando is underway and will be complete in late 2022. Brightline West which will connect Las Vegas and Southern California is shovel ready and expect to launch service in 2024. 

 

ABOUT WALT DISNEY WORLD RESORT

Walt Disney World Resort is a contiguous, nearly 40-square-mile, world-class entertainment and recreation destination featuring four theme parks (Magic Kingdom Park, EPCOT, Disney's Hollywood Studios and Disney's Animal Kingdom Theme Park); two water adventure parks (Disney's Blizzard Beach Water Park and Disney's Typhoon Lagoon Water Park); more than 25 resort hotels; 63 holes of golf on three championship courses; two full-service spas; Disney's Wedding Pavilion; ESPN Wide World of Sports Complex; and Disney Springs, a shopping-dining-entertainment complex. Located in Lake Buena Vista, Fla., 20 miles southwest of Orlando, Walt Disney World Resort opened Oct. 1, 1971.

 

Press Releases/ Brightline and Miami-Dade...

Brightline and Miami-Dade County Agree to Access Fee for New Commuter Rail System

November 20, 2020

MIAMI, Fla. – Today, the Miami-Dade County Commission unanimously approved an access fee paving the way for new commuter rail system on the Brightline/Florida East Coast Railway corridor. The system would connect the northeast region of Miami-Dade County with possible station locations at 151st Street (FIU), 123rd Street (North Miami), El Portal, the Design District, Wynwood and Little Haiti. The system would be interoperable with Brightline’s Aventura and MiamiCentral stations and would ultimately connect with Metrorail, Metromover and Tri-Rail. This project, which has been studied for decades, will provide reliable, convenient transportation to one of the densest areas of Miami-Dade County.

 

The agreement focuses on a $12 million annual access fee in addition to an initial payment of

$50 million. The 90-year agreement only includes payment for the first 30 years. The system is designed to run hourly trains with additional service during peak rush-hour. The county will begin negotiating definitive documents with Brightline over the next 60 days and expects to make a decision on who will operate the system in the coming months.

 

The commuter rail system is expected to generate significant economic and environmental benefits while carrying nearly three million riders each year upon stabilization. Based on independent economic studies, the system is expected to generate $5 billion in economic impact over the first ten years. This includes over 23,500 jobs, $282 million in annual labor income, $5.5 million in annual revenue for Miami-Dade County and $7.2 million in annual revenue for Miami-Dade Public Schools.

 

Significant community support has been demonstrated throughout the approval process. Businesses, educational and cultural institutions, homeowners associations and sports teams realize the economic and quality of life value that will be delivered with this new commuter rail system.

 

“This is a tremendous milestone for Miami-Dade County and all the credit goes to the county commission and their vision to improve mobility in our community. A commuter rail system will take cars off the road and provide an environmentally friendly way to get around our region. In

 

the short term, it will create jobs and rebuild our economy as we rebound from COVID,” said Brightline President Patrick Goddard.

 

“For decades I have advocated for a commuter rail along the Northeast Corridor, mobilizing people while reducing vehicles on our congested roads. Today is an important day; thanks to my Commission colleagues and Brightline, we are “on track” and closer to making this project a reality,” said Commissioner Sally Heyman, Miami-Dade County.

 

“Developing a commuter rail system along the economic centers of Miami-Dade County will provide more access to jobs, cultural centers, arenas and other locations critical to residents. Transportation remains key to moving our county forward and creating much-needed economic opportunities,” said Commission Chairwoman Audrey Edmonson, Miami-Dade County.

 

“The approval to move forward and implement commuter rail along the Northeast Corridor is the result of the grassroots efforts of over 50 businesses, community organizations and cultural institutions across Miami-Dade that collectively advocate for new mobility options such as this commuter rail initiative,” said Albert Garcia, Chairman of the Wynwood Business Improvement District (BID) and Chairman of the Corridor Coalition. “Millions will benefit from the implementation of this public transit system and the economic growth it will generate. We remain committed to this project as it progresses and hope this service will soon expand to Broward.”

 

“The NE Corridor commuter rail system will deliver enhanced mobility options for our nearly 7,000 students, faculty and staff. FIU believes this project will have immediate impacts to our community and campus as it makes our Biscayne Bay campus multi-modal and fully connected to the county’s transit systems. We look forward to the project becoming a reality,” said Pablo

G. Ortiz, Vice Provost, Biscayne Bay Campus.

 

--END--

 

CONTACT:     Ben Porritt

EMAIL:           ben@gobrightline.com

 

ABOUT BRIGHTLINE

 

Brightline is the first privately funded passenger rail system in America in over a century and was recognized by Fast Company as one of the Most Innovative Companies in travel. Brightline is designed to reinvent travel and take cars off the road by connecting city pairs and congested corridors that are too close to fly and too long to drive. Providing fast, efficient, hospitality- driven transportation featuring the latest in customer-friendly amenities, Brightline currently operates in Florida between Miami, Fort Lauderdale and West Palm Beach, with plans to develop new stations in Boca Raton, Aventura and PortMiami. Construction to Orlando is

 

underway and will be complete in late 2022. Brightline West which will connect Las Vegas and Southern California is shovel ready and expect to launch service in 2024.

Press Releases/ First in the Nation to U...

First in the Nation to Use Innovative Box-Jacking

September 1, 2020

ORLANDO, Fla. – When Brightline Trains embarks on jacking a precast concrete box under an Orlando roadway this month it will mark a historical accomplishment for the US construction industry. Brightline will be one of the first companies in the nation and the first outside the northeast to use this innovative box-jacking method that can build a tunnel for a train in the fraction of the time it would take using conventional methods. The box-jack operation at Goldenrod Rd., just east of Orlando International Airport, will take just two weeks to complete compared to traditional underpass construction which would have shut down local roadways for nearly a year.  

 

The box-jacking system was developed by Italy-based Petrucco, and will be carried out by them in collaboration with Brightline general contractor Granite Construction. The system uses hydraulic jacks to push two precast concrete boxes, measuring 146-feet and 126-feet long respectively with 42-ft side walls, while an excavator digs out a path from inside the box and from the opposite side.

 

The Petrucco box-jacking method is commonly used in Europe and around the globe for rail construction but, until now, has seen very limited application in North America. Brightline is on a path to change that. This will be the first of two box-jacking operations that will occur on the Brightline corridor. Following the Goldenrod Rd. work, Brightline is working on a similar box jacking operation, which would build a rail underpass under SR 528 at US 1 in Brevard County. That work is expected to take place in early 2021. 

 

“This box-jacking method began as an idea that Granite Construction brought to Brightline as a way use construction technology to build two underpasses along the busy corridor between Orlando and Cocoa that would minimize the impact to traffic,” said Michael Cegelis, Executive Vice President, Rail Infrastructure, Brightline. “We are constantly working with our contractors to implement the most innovative and advanced approach to construction, and Granite responded with this innovative technology that is proven in Europe but not widely utilized in the U.S. It will reduce the period of traffic detour from many months to weeks.”

 

Moving the concrete boxes will require specialized hydraulic jacks that can manage the weight and size. Each precast box weighs more than 3000 tons, the equivalent of 15 Boeing 757’s, stands three stories high and can hold three semi-trucks end-to-end. The installation will progress at approximately three feet per hour and will take 40 workers working 12-hour shifts to keep the operation running 24/7.

 

This box jacking method was first used in the U.S. earlier this year on the Long Island Railroad expansion project in New York City. In this project, similar precast concrete boxes were installed under roadways eliminating the need for at-grade railroad crossings.  

 

The Goldenrod Rd. project, scheduled to run continuously from Wednesday, September 9 through Tuesday, September 22, will shut down northbound and southbound Goldenrod Rd., from south of the SR 528 bridge to Cargo Rd.  The Goldenrod exit from SR 528 will remain open for traffic heading north on Goldenrod Rd. Southbound traffic will be detoured via Semoran Blvd./Orlando International Airport and Hazeltine National Dr.

 

The box-jacking work is part of Brightline’s Orlando extension project which covers 170-miles from West Palm Beach to Orlando International Airport and will connect Miami to Orlando via high-speed rail.  Construction of the $2.7B project is expected to be completed in late 2022. Railroad construction information can also be found online at https://www.gobrightline.com/railroad-construction.

 

Brightline construction videos and photos available for download at the following links:

Time lapse videos of box jacking can be found at Petrucco Box Jacking Systems.

 

--END—

 

GOLDENROD RD. DETOURS

 

  • Northbound and Southbound Goldenrod Rd. south of Beachline Expressway/SR 528 bridge to Cargo Rd.
  • 12:01 a.m., Wednesday, September 9 through 11:59 p.m., Tuesday, September 22

 

Northbound Goldenrod Rd./Heintzelman Blvd.:

  • Northbound Heintzelman Blvd. traffic wishing to continue north on Goldenrod Rd. will be directed to travel west on Cargo Rd. to Jeff Fuqua Blvd., travel north on Jeff Fuqua Blvd. to eastbound SR 528 and travel east on SR 528 to Goldenrod Rd. (Exit 12).

Southbound Goldenrod Rd./Heintzelman Blvd. from westbound SR 528:

  • DETOUR 1: Westbound SR 528 traffic wishing to continue south on Goldenrod Rd./Heintzelman Blvd. will be directed to exit at Goldenrod Rd. (Exit 12), travel north on Goldenrod Rd. to Hazeltine National Dr., travel west on Hazeltine National Dr. to Semoran Blvd., travel south on Semoran Blvd., which becomes Jeff Fuqua Blvd., to Cargo Rd. and travel east on Cargo Rd. to access southbound Heintzelman Blvd.
  • DETOUR 2: Westbound SR 528 traffic wishing to continue south on Goldenrod Rd./Heintzelman Blvd. can also continue west on SR 528 to Semoran Blvd. (Exit 11), travel south on Semoran Blvd., which becomes Jeff Fuqua Blvd., to Cargo Rd., and travel east on Cargo Rd. to access southbound Heintzelman Blvd.

Southbound Goldenrod Rd./Heintzelman Blvd. from eastbound SR 528:

  • Eastbound SR 528 traffic wishing to continue south on Goldenrod Rd will be directed to exit early at Semoran Blvd. (Exit 11), travel south on Semoran Blvd., which becomes Jeff Fuqua Blvd., to Cargo Rd. and travel east on Cargo Rd. to access southbound Goldenrod Rd./Heintzelman Blvd

 

About Brightline

Brightline is the first privately funded passenger rail system in America in over a century. Brightline is designed to reinvent travel and take cars off the road by connecting city pairs and congested corridors that are too close to fly and too long to drive. Providing fast, efficient, hospitality-driven transportation featuring the latest in customer-friendly amenities, Brightline currently operates in Florida between Miami, Fort Lauderdale and West Palm Beach, with plans to expand to Orlando, Boca Raton, Aventura and PortMiami. The company is also on track to break ground between Las Vegas and Southern California in 2020.

 

 

###

Press Release/ Brightline Names Christin...

March 15, 2021

Brightline Names Christine Kefauver Senior Vice President of Corporate Development

Orlando, Fla., Brightline Trains has announced Christine Kefauver as senior vice president of corporate development. Kefauver will lead Brightline’s government affairs and community outreach in Central Florida where the company is under construction to expand its service to Orlando International Airport. Brightline is also negotiating with the Florida Department of Transportation (FDOT) on an expansion to Tampa.

 

“Christine is the right leader for Brightline to build a strong and active presence in Central Florida,” said Patrick Goddard, president of Brightline. “Christine understands the history and future opportunities of the region and has built a strong reputation with all those involved in effecting change within the transportation sector.”

 

“The transportation industry is changing rapidly and there is no better example than Brightline’s effort to connect Florida with high-speed rail,” said Kefauver. “I’m excited to jump on board and look forward to building a transportation system and network that will accelerate Central Florida’s mobility plans and continue to make Florida our nation’s most competitive state.”

 

Kefauver served as the transportation policy advisor for Mayor Buddy Dyer at the City of Orlando for seven years, playing a key part in advancing Central Florida's first commuter rail line, SunRail. Kefauver has been involved in Central Florida transportation initiatives for over 30 years and recognizes the power of partnerships, having built wide-ranging coalitions while working closely with FDOT, LYNX, The Orlando Economic Partnership, MetroPlan Orlando and Orlando International Airport.

 

Prior to joining Brightline, Kefauver worked as the operations lead for Florida, Alabama and Mississippi for HDR Engineering. Managing a team of more than 600, she was accountable for all of transportation, water, power and construction services. During the past two years at HDR, Christine was the National Urban Market Development Director for both of the Engineering and Architecture lines of business.

 

An active member of the community, Kefauver served nine years on the Coalition for the Homeless in Central Florida and is a past President of WTS Central Florida.

 

--END--

 

ABOUT BRIGHTLINE

Brightline is the first privately funded passenger rail system in America in over a century and was recognized by Fast Company as one of the Most Innovative Companies in travel. Brightline is designed to reinvent travel and take cars off the road by connecting city pairs and congested corridors that are too close to fly and too long to drive. Providing fast, efficient, hospitality-driven transportation featuring the latest in customer-friendly amenities, Brightline currently operates in Florida between Miami, Fort Lauderdale and West Palm Beach, with plans to develop new stations in Boca Raton, Aventura and Port Miami. Construction to Orlando is underway and will be complete in late 2022. Brightline West, which will connect Las Vegas and Southern California, is shovel ready and expects to launch service in 2024.

 

Press Release/ Brightline First in North...

March 8, 2021

Brightline First in North America to Construct Rail Underpass Under Highway System Using Innovative Box-Jacking Method

Orlando, Fla. – Brightline Trains will make construction history when it builds a rail underpass under SR 528 in Brevard County, becoming the first in North America to use the innovative box-jacking method under a highway system and the first to do so under live traffic.

 

The SR 528 tunnel, located just west of US-1, will be constructed over a two-week span using box-jacking. The method uses hydraulic jacks to move precast concrete boxes into place, creating a tunnel under the roadway. An anti-drag system will be used when installing the boxes to allow for traffic to continue to travel overtop the work.

 

The SR 528 box-jacking project begins on Sunday, March 14 and will last through Tuesday, March 30.

During this time, the highway will be reduced to one lane in each direction and some entrance and exit ramps will be closed to reduce congestion on the highway. Full detours of SR 528 will be limited to overnight hours at the start and finish of the project.

 

“In order to build an underpass under SR 528, a busy highway which is a gateway to Florida beaches, we knew we had to come up with a way to minimize the impact on this roadway and the travelling public,” said Michael Cegelis, Executive Vice President, Development and Construction, Brightline. “We strive to use the newest technologies to build high-speed rail in America and our general contractor Granite found, investigated, and proposed this box-jacking concept. Box-jacking will enable us to accomplish in 15 days what would otherwise take up to a year using traditional construction methods.”

 

Granite, who built the concrete box segments, will jack them into place with support from specialty subcontractor Petrucco. The Italy-based Petrucco has successfully completed thousands of box-jacking operations worldwide.

 

The box-jacking system will use hydraulic jacks to push three precast concrete boxes, each weighing between 3,300 and 4,600 tons under SR 528. The installation will progress at approximately three feet per hour and will take between 40 and 50 workers working 12-hour shifts to keep the operation running 24/7.  The underpass, once constructed, will measure 31-feet high by 43-feet wide, will be the length of a football field and will accommodate two trains side-by-side. The underpass will allow Brightline to travel between South Florida and Central Florida and pass under SR 528, eliminating the need for a railroad crossing.

 

The Petrucco box-jacking method, while commonly used in Europe and around the globe for rail construction, has seen limited use in North America. It was first used in the United States on the Long Island Railroad expansion project in New York City. The SR 528 project will mark the fifth use of this method in North America and the second on the Brightline high-speed rail project to Orlando. In September 2020, Brightline became the first to use box-jacking outside of the northeast when it built an underpass under Goldenrod Rd. in just nine days. Traditional underpass construction would have shut down the roadway for nearly a year. 

 

The box-jacking work is part of Brightline’s Orlando extension project which covers 170-miles from West Palm Beach to Orlando International Airport and will connect Miami to Orlando via high-speed rail.  Construction of the $2.7B project is expected to be completed in late 2022. Railroad construction information can also be found online at https://www.gobrightline.com/railroad-construction.

 

Brightline construction videos and photos available for download at the following links:

 

Dimensions / weight of boxes:

Box 1: 137 ft. x 31 ft., 4,400 tons

Box 2: 110 ft. x 31 ft., 4,600 tons

Box 3: 101 ft. x 31 ft., 3,300 tons


MEDIA CONTACT:

Katie Mitzner

407-502-3587

katie.mitzner@gobrightline.com

 

SR 528 CLOSURES and DETOURS

LANE CLOSURES

Eastbound and westbound SR 528 (from Industry Rd. to US-1)

Full road closure with detour:

  • 10 p.m., Sunday, March 14 to 5 a.m., Monday, March 15
  • 10 p.m., Monday, March 29 to 5 a.m., Tuesday, March 30

Detour Information:

  • Eastbound SR 528 traffic will be directed to exit at Clearlake Rd. (Exit 45), travel south on Industry Rd. to SR 524, travel east on SR 524/Clearlake Rd. and follow south to SR 520, travel east on SR 520 to US-1 and travel north on US-1 to access eastbound SR 528.
  • Westbound SR 528 traffic will be directed to exit at US-1 (Exit 46), travel south on US-1 to SR 520, travel west on SR 520 to Clearlake Rd., travel north on Clearlake Rd. to Industry Rd. and travel north on Industry Rd. to access westbound SR 528.

Eastbound and westbound SR 528 (from Industry Rd. to US-1)

Single lane closure in each direction, 5 a.m., Monday, March 15 through 10 p.m., Monday, March 29.

  • Traffic will be shifted to west side of SR 528 and will be reduced to one lane in each direction. As work progresses, traffic will be shifted from the westbound to the eastbound side of SR-528 remaining in one lane in each direction.

RAMP CLOSURES:

Northbound Industry Rd. entrance ramp to eastbound SR 528

Full ramp closure, 10 p.m., Sunday, March 14 to 5 a.m., Tuesday, March 30.

Detour Information:

  • Northbound Industry Rd. traffic wishing to travel east on SR 528 will be directed to travel south on Industry Rd. to SR 524, travel east on SR 524 to Clearlake Rd., travel south on Clearlake Rd. to SR 520, travel east on SR 520 to US-1 and travel north on US-1 to access eastbound SR 528.

Northbound US-1 entrance ramp to westbound SR 528

Full ramp closure, 10 p.m., Sunday, March 14 to 5 a.m., Tuesday, March 30.

Detour Information:

  • Northbound US-1 traffic wising to travel west on SR 528 will be directed to travel south on US-1 to SR 520, travel west on SR 520 to Clearlake Rd., travel north on Clearlake Rd. to Industry Rd. and travel north on Industry Rd. to access westbound SR 528.

Eastbound SR 528 exit ramp to northbound US-1 (Exit 46)

Full ramp closure, 10 p.m., Sunday, March 14 to 5 a.m., Tuesday, March 30.

Detour Information:

  • Eastbound SR 528 traffic wishing to travel north on US-1 will be directed to exit early at Industry Rd./Clearlake Rd. (Exit 45), travel south on Industry Rd. to SR 524, travel east on SR 524 to Clearlake Rd., travel south on Clearlake Rd. to SR 520, travel east on SR 520 to US-1 and travel north on US-1 to access eastbound SR 528.

SR-528 Eastbound and Westbound Detour