Mayer Brown acted as underwriter’s counsel for the issuance of $1.75 billion principal amount of tax-exempt private activity bonds for the benefit of the second phase of the Virgin Trains (f/k/a All Aboard Florida and Brightline) passenger rail project and to refinance the 2017 issuance of $600 million principal amount of tax-exempt private activity bonds for the benefit of the project’s first phase.
The Virgin Trains project is a privately owned and operated inter-city passenger rail service that will link downtown Miami with the Orlando International Airport, with stops in West Palm Beach and Ft. Lauderdale. Virgin Trains is the first privately financed US inter-city passenger rail project system in over a century.
Morgan Stanely acted as underwriter in the deal.
The Mayer Brown team included: Banking & Finance – partner George Miller (Picture) and associate Chloe Rossen (Chicago); Government and Global Trade – partners David Narefsky and Stephanie Wagner, counsel Jeromy Cannon and associate Casey Williams (all Chicago); Real Estate – partner David Saye and counsel Cory Menees (both Charlotte); and Tax Transactions & Consulting – partner Steven Garden (Chicago).
Involved fees earner: Jeromy Cannon – Mayer & Brown; Steven Garden – Mayer & Brown; Cory Menees – Mayer & Brown; George Miller – Mayer & Brown; David Narefsky – Mayer & Brown; Chloe Rossen – Mayer & Brown; David Saye – Mayer & Brown; Stephanie Wagner – Mayer & Brown; Casey Williams – Mayer & Brown;
Law Firms: Mayer & Brown;
Clients: Morgan Stanley;