Vista Global Holding Limited is working on a preferred equity raise, according to financial markets news site 9fin. Vista Global is the parent entity of Vista Malta (Malta International) and Vista America and is reportedly working with US-based investment banking and capital markets firm Jefferies on the deal.
Sources told the site that the size of the potential deal could be between USD600 million and USD1 billion, money that would be used to cover amortisation payments on the company’s aircraft leases, among other things. However, sought for a response, Vista Global declined to comment to ch-aviation.
Vista Global also holds a non-controlling minority stake in US Federal Aviation Administration-licenced and Department of Transportation-registered carriers XOJET Aviation, Red Wing Aviation, Western Air Charter, JetSelect Aviation (all four trading as Vista America), and Talon Air. Thomas Flohr, founder and chairman of Vista Global, also holds around 86% of the company's stock.
"While it’s been clear for some time that VistaJet needs to raise cash, the founder’s large ownership stake has been a significant factor in discussions around how such a capital raise should be structured," the financial intelligence site reads.
In May 2023, Vista Global raised USD500 million via a bond issue with a 9.5% coupon value and a 2028 maturity date.
According to Vista Global's website, the company's various brands operate a large fleet of Bombardier Global 7500, 6000, 5000, Gulfstream G450, GIV-SP, Embraer Lineage 1000E, Legacy 650/650E, Praetor 600, Cessna Citation X, Citation XL, and Citation XLS/XLS+, and Falcon 7X aircraft.
