Story ID: 
VistaJet Completes $300 Million Offering
By: Kerry Lynch
Caption: Proceeds will help VistaJet continue its global expansion plans.
Word Count: 181
VistaJet completed a $300 million offering of unsecured notes that will help fund its aircraft acquisition activities and expansion plans. The offering, completed through VistaJet subsidiaries VistaJet Malta Finance plc and VistaJet Co. Finance llc, involves 7.750-percent senior unsecured notes due 2020. In concert with its offering, VistaJet obtained corporate credit ratings of B+/Stable from Standard & Poors and B/Stable from Fitch.

"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 U.S. dollar bond in private aviation,” said founder and chairman Thomas Flohr.

The offering comes as VistaJet moves on plans to expand globally. The company added 10 aircraft to its fleet in the first quarter, is launching its Chinese operation and is in the midst of nearly doubling its U.S. fleet this year. The company recently retired its last Learjet as it builds up its all-Challenger and Global fleet. VistaJet will use the funds from the offering for aircraft acquisition and general corporate purposes, the company said.