New Mexico Rail Runner receives refinancing plan

New Mexico
rail runner sept 1 2017_669655

New Mexico has a new payment plan for the Rail Runner.

State officials say market conditions allowed the state to break even on the refinancing of about $420 million in debt. Without the refinancing, the state’s annual payment for the Rail Runner could have climbed from roughly $30 million to nearly $110 million in seven years.

With the new deal, payments are expected to top out at $40 million.

The Rail Runner will now be paid off in 2030 rather than 2027.

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