Dechert Advises BOND on US$350 Million Investment Led by KKR and Strategic Purchase Agreement with Bombardier

Dechert advised BOND, the world's first premium fractional aviation company, on the close of US$320 million in preferred equity and debt financing led by credit funds and accounts managed by KKR, a leading global investment firm. An additional US$30 million in equity funding was provided by a select group of founding partners.

Dechert also assisted Soar Aviation in advising BOND on its strategic collaboration with Bombardier. Launched with a fleet composed exclusively of Bombardier aircraft, BOND introduces "Fractional 2.0" - a new model of ownership designed for a new generation of private flyers who expect reliability, service excellence and capital-efficient ownership. Under the US$1.7 billion firm order and services agreement, BOND will acquire 50 factory-new Challenger 3500 and Global 6500 aircraft with options for 70 more. With those additional aircraft, the total value of the Bombardier purchase could exceed US$4 billion.

BOND's agreement with Bombardier also establishes a first-of-its-kind, fully integrated OEM-operator service agreement to maximize uptime and deliver exceptional operational reliability. The relationship ensures BOND members benefit from Bombardier's U.S. service network and dedicated onsite maintenance resources exclusive to the BOND fleet.

The Dechert team that advised BOND was led by corporate partners Nick Marchica, Sarah Kupferman and Mark Thierfelder on the equity and corporate aspects of the transaction; global finance partner Bruce Hickey and counsel Paul McAleer on the debt financing and aircraft purchase agreement; and tax partners David Passey and Joshua Milgrim who led on tax matters critical to the overall deal structure.

Additional support was provided by corporate partner Bernardo Piereck, counsel Margaret Hanson and John Alessi and associates Joshua Kim, Javier Rodríguez, Hanin Abu Amara and Ryan Yang; employee benefits partner Howard M. Klein and associates Michael Binko and Brie Michaelson; intellectual property associate Spencer Joffrion; and tax associate Insung Kim.

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