"Where can you get 12% yield?" Investors just took on a ton of risk to finance a new Florida passenger railway project being undertaken by Fortress Investment Group, reports Reuters' Natalie Harrison and Shankar Ramakrishnan. The project, called All Aboard Florida, plans to use existing freight railway on the east coast of Florida to carry passengers. Reuters said the project does not yet have any cash flow and is already facing some political push back. Fortress sold $405 million worth of d...
Investors Just Threw A Ton Of Money At Unusually High-Risk Bonds For A Project That Doesn't Make Money
Business Insider - 21 Jun 2014 18:19
"Where can you get 12% yield?" Investors just took on a ton of risk to finance a new Florida passenger railway project being undertaken by Fortress Investment Group, reports Reuters' Natalie Harrison and Shankar Ramakrishnan. The project, called All Aboard Florida, plans to use existing freight railway on the east coast of Florida to carry passengers. Reuters said the project does not yet have any cash flow and is already facing some political push back. Fortress sold $405 million worth of d...
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