If they have not been purchased, bondholders will have to factor in the possibility that these bonds may be recalled at a future date.
Virgin Trains USA Inc., has put off what would have been the year’s biggest initial public offering so far.The private passenger train
A week-day train was empty except for a handful of passengers when The Guardians rode Brightline
operator, known as Brightline until it struck a licensing deal last year with billionaire Richard Branson, sought to raise as much as $538 million in an IPO that was set to price Tuesday.
“As we explored a public offering, a number of alternative financing sources became available that allow us to keep the company private and meet our growth strategies,” Ben Porritt, a spokesman for the Miami-based company, said in an emailed statement.
Virgin Trains may return to the equity market at a later time, said a person familiar with the matter who asked not to be identified because the decision hadn’t been made public at the time.
The offering, which would have valued the company at as much as $3.15 billion, had been expected to price below the marketed price range of $17 to $19 a share, a person familiar with the matter said Monday.
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