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One Sky Flight talks $425 million term loan at Libor plus 625-650 bps
By Sara Rosenberg
New York, Nov. 20 – One Sky Flight LLC launched on Wednesday its $425 million seven-year senior secured first-lien term loan (B2) with price talk of Libor plus 625 basis points to 650 bps with a 1% Libor floor and an original issue discount of 98, according to a market source.
The term loan has 101 soft call protection for one year.
Jefferies LLC, Guggenheim and CIBC are the lead arrangers on the deal.
Commitments are due at 5 p.m. ET on Dec. 5, the source added.
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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