Texas Central names financial advisers for bullet-train project

Texas Central has selected Citi and MUFG to serve as the high-speed rail developer's financial advisers and lead capital-raising activities.

Citi and MUFG will assist in securing the financing across debt and equity to finance Texas Central's effort to build a privately funded bullet-train service between Houston and North Texas, Texas Central officials said in a press release.

Citi will serve as the sole global coordinator and lead financial adviser, while MUFG will be a co-global financial adviser, they said.

This week's announcement is the latest step in the company's plan to build a high-speed rail service that will connect North Texas, the Brazos Valley and Houston in a 90-minute trip.