Late last week, Private Jet Card Comparisons revealed that Flexjet Inc. recently raised approximately $550 million in funding via unsecured bond notes. Additionally, Flexjet also raised a $600 million secured warehouse facility, as originally discovered by S&P Global Ratings and Moody's Ratings.
According to Private Jet Card Comparisons, the Chief Financial Officer (CFO) of Flexjet, Mike Rossi, confirmed that the provider has secured this additional funding. Rossi also confirmed that the bond offering closed on Wednesday, December 11th, and that the bond was funded the following week, on Wednesday, December 18th. While they do not offer charters in the same sense as the two other charter operators, they have a few workarouns.
Additional funding secured for Flexjet On Thursday, December 19th, Private Jet Card Comparisons revealed the new funding secured by Flexjet Inc. The company, which had previously planned to conduct an initial public offering (IPO) via a special purpose acquisition company (SPAC) last year, raised $550 million due to unsecured notes as well as a $600 million secured warehouse facility. A secured warehouse facility provides revolving financing by allowing a lender to fund a third party's loan originations.
The Chief Financial Officer (CFO) of Flexjet, Mike Rossi, confirmed the report with Private Jet Card Comparisons. He stated, "The strength of Flexjet’s balance sheet and performance allowed us to complete an unsecured bond offering." About Flexjet Flex.