Texas Central selects financial advisers for privately funded high-speed train project
February 21st, 2019
February 21, 2019 - TRA Newswire -
Marking a major milestone in support of a first-of-its-kind high-speed train, Texas Central announced today it has engaged Citi and MUFG as financial advisers and to lead its capital-raising activities.
Texas Central, which is developing the high-speed line between Houston and North Texas, said Citi will serve as sole global coordinator and lead financial adviser and MUFG as co-global financial adviser. Citi and MUFG will assist in securing the financing across debt and equity to finance the project. Texas Central and its affiliated entities will be responsible for the systems design, finance, construction, operation and maintenance.
Texas Central's high-speed train is expected to connect North Texas, the Brazos Valley and Houston, in about 90 minutes, according to the company with one intermediate stop in the Brazos Valley.
The market-led approach, backed by investors, is not dependent on government grants as is a California high-speed rail project that has been mired in problems over mis-management.
Marking a major milestone in support of a first-of-its-kind high-speed train, Texas Central announced today it has engaged Citi and MUFG as financial advisers and to lead its capital-raising activities.
Texas Central, which is developing the high-speed line between Houston and North Texas, said Citi will serve as sole global coordinator and lead financial adviser and MUFG as co-global financial adviser. Citi and MUFG will assist in securing the financing across debt and equity to finance the project. Texas Central and its affiliated entities will be responsible for the systems design, finance, construction, operation and maintenance.
Texas Central's high-speed train is expected to connect North Texas, the Brazos Valley and Houston, in about 90 minutes, according to the company with one intermediate stop in the Brazos Valley.
The market-led approach, backed by investors, is not dependent on government grants as is a California high-speed rail project that has been mired in problems over mis-management.