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[QUOTE]Originally posted by Gilbert B Norman: [QB] So it appears that the industry trade magazine, [URL=https://www.bondbuyer.com/news/wowed-investors-snap-up-bonds-for-virgin-trains-usa]Bond Buyer[/URL] reports the private placement by Morgan Stanley was successful. Fair Use: [i][list] [*]The Virgin Trains USA name made a hit with qualified investors who eagerly scooped up its high-yield bonds to finance Florida’s privately owned passenger train project. In the largest municipal bond deal of the week, the $1.75 billion of unrated private activity bonds priced Monday with the Florida Development Finance Corp. as the conduit issuer on behalf Virgin Trains USA, formerly known as Brightline. The deal, upsized from $1.5 billion initially proposed in bond documents, priced a day ahead of schedule because of strong demand. Morgan Stanley, the sole underwriter, said 67 participants sought orders after “very successful” roadshows in Boston and New York. In-person site visits also allowed prospective investors to ride the train service on its current route between Miami and West Palm Beach, which offers passengers wireless internet service, electrical power and USB outlets at all seats, and food and drink service.[/i] [/list] [/QB][/QUOTE]
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