VistaJet starts roadshow for $800 million eight-year notes offering; pricing expected Friday

By Paul A. Harris

Portland, Ore., Jan. 19 – VistaJet began a roadshow on Wednesday for an $800 million offering of senior notes due 2030, according to market sources.

The deal, which was set to kick off on a Wednesday conference call with investors, is in the market with initial guidance in the high 6% area to 7%.

The roadshow runs through Friday, and the deal is also expected to price on Friday.

Joint physical bookrunner BofA will bill and deliver. Jefferies is also a joint physical bookrunner.

Barclays and Credit Suisse are co-managers.

The Rule 144A and Regulation S for life eight-year notes become callable after three years at par plus 50% of the coupon. They feature a 40% equity clawback at par plus the full coupon during the non-call period. They also feature a 101% poison put.

The issuing entities will be VistaJet Malta Finance plc and XO Management Holding, Inc.

The Luqa, Malta-based aviation company plans to use the proceeds to redeem its 10½% notes due 2024.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.