The link between economic prosperity and luxury travel is among the factors that forced charter plane company VistaJet to pay more than expected for debt funding this week
. But the link between economic prosperity and luxury travel is among the factors that forced a charter plane company to pay more than it expected for debt funding this week.Swiss billionaire Thomas Flohr
Holders of the notes will receive interest at a rate of 10.5% per year, but deal arranger Credit Suisse sold the notes at a discount, to yield 11%, sources told . That’s more than the roughly 9% pricing the company was initially aiming for, and a significant premium to the 6.8% average for borrowers with It’s also a lot wider than the 7.75% interest rate on Vista’s existing unsecured bonds.
“This company can grow as long as the stock market goes up,” said one credit investor, arguing that Vista’s sales could plummet in a recession. “There are businesses that are counter-cyclical, cyclical, and ultra-cyclical, and this goes into the ultra-cyclical bucket.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Donald Trump stokes Iran war fears, warns 'they will suffer greatly' if they 'do anything''We'll see what happens with Iran. If they do anything, it will be a big mistake,' President Donald Trump warned at a White House press conference..
Read more »
U.S. growth would have contracted without trillions in government, consumer debt: GundlachU.S. growth appears to be based 'exclusively' on government, corporate...
Read more »
European stocks drop as China ups stakes in trade war with U.S.European stocks continued their decline on Monday, on the heels of this year&03...
Read more »
Dow plunges nearly 600 points as investors fear escalating trade war threatens economyWall Street recoiled Monday as Beijing promised to impose steep tariffs on $60 billion in U.S. goods. The Standard & Poor’s 500 index also was off significantly at the opening bell.
Read more »
Uber Stock’s Plunge Is Blemish on IPO MarketUber’s stock fell 11%, in another setback for the highest-profile company to go public in years and threatening to cast a chill over the IPO market.
Read more »
Dow plunges more than 700 points intraday Monday as trade-related stock-market losses gather steamThe stock market on Monday touched an intraday low, with the Dow sinking over 700 points amid escalating U.S.-China trade aggressions that have roiled...
Read more »
Escalating US-China trade war sends stocks plungingThe Dow Jones Industrial Average plunged more than 500 points Monday as investors sought shelter from an escalating trade war between the U.S. and China. The Dow and S&P 500 index each fell...
Read more »
8th grader inspired by lunch shaming stories vows to pay a district's $18K lunch debtA 14-year-old has pledged to eliminate the sizable lunch debt for a district of 129 schools in Texas state.
Read more »
Apple shares drop 7% this week on fears China trade turmoil threatens iPhone growth plansApple shares have slid steadily amid tumultuous U.S. trade negotiations with China, as investors fear CEO Tim Cook's warning earlier this year about iPhone sales in China may yet come true.
Read more »
Apple shares suffer worst week of 2019 as investors fear China trade turmoil threatens iPhone growthApple shares have slid steadily amid tumultuous U.S. trade negotiations with China, as investors fear CEO Tim Cook's warning earlier this year about iPhone sales in China may yet come true.
Read more »