VistaJet to market $525 million five-year notes during May 6 week

By Paul A. Harris

Portland, Ore., May 3 – VistaJet Malta Finance plc plans to commence marketing a $525 million offering of five-year senior notes on Monday, according to a syndicate source.

A net roadshow presentation will be made available on Monday.

An investor lunch is scheduled to get underway at 12:30 p.m. ET on Tuesday.

The roadshow runs through May 10, and the Rule 144A and Regulation S offering is set to price thereafter.

Credit Suisse Securities (USA) LLC is the left bookrunner. Jefferies LLC and BofA Merrill Lynch are the joint bookrunners.

The notes become callable after two years at par plus 50% of the coupon and feature a two-year 40% equity clawback and a 101% poison put.

The co-issuer will be XO Management Holding, Inc.

The company, which is based in the Malta International Airport, in Malta, plans to use the proceeds to repay its term loan and redeem its outstanding notes.

VistaJet provides business aviation travel services.

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