One Sky Flight to launch $425 million term loan on Wednesday

By Sara Rosenberg

New York, Nov. 15 – One Sky Flight LLC is scheduled to hold a bank meeting at 10:30 a.m. ET in New York on Wednesday to launch a $425 million seven-year senior secured first-lien term loan, according to a market source.

Jefferies LLC, Guggenheim and CIBC are the lead arrangers on the deal.

The term loan has 101 soft call protection for one year, the source said.

Proceeds will be used to refinance existing debt, purchase aircraft currently leased and fund cash to the balance sheet to support future growth.

One Sky is a full-service private aviation company offering a range of services that includes fractional aircraft share sales, fractional aircraft share leasing, pre-paid jet cards, on-demand charter and aircraft management services in the United States and Europe.

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