VistaJet Completes USD 300 Million Senior Unsecured Note Offering
VistaJet Malta Finance P.L.C. and VistaJet Co Finance LLC, subsidiaries of VistaJet Group Holding SA (“VistaJet”), announced that they have now closed their offering of USD 300 million aggregate principal amount of 7.750% senior unsecured notes due 2020. Interest on the 5-year notes is payable semi-annually on June 1st and December 1st, beginning on December 1st 2015. The notes are guaranteed on a senior unsecured basis by VistaJet.
The net proceeds of the notes will be used by VistaJet to acquire aircraft and for general corporate purposes, as part of the Company’s continuing global expansion. The issuance confirms VistaJet’s position as one of the world’s leading privately owned branded business aircraft fleets, and helps the Company to fulfill the substantial and fast growing global travel needs of its corporate executive and High Net Worth Individual customers.
As part of this process VistaJet obtained its first public corporate credit ratings from Standard & Poors and Fitch, of B+/Stable and B/Stable respectively.
Thomas Flohr, Founder and Chairman of VistaJet, said, “As a first time issuer, we are very pleased with the demand and support for this offering, which to our knowledge is the first ever unsecured US Dollar bond in private aviation.”
Source: VistaJet
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