Vista Global Holding, trading as Vista, has issued a USD525 million unsecured bond while keeping the option of an initial public offering (IPO) open, chairman Thomas Flohr told CNBC.

According to the International Financial Review, the bond proceeds will be used to redeem USD500 million of senior notes due in 2027, with the remainder allocated to general corporate purposes. The new notes are due to mature in 2032.

Flohr did not rule out a potential IPO, while emphasising continued founder control. “We always keep all the financial options available to us, that includes an IPO and other potential strategic investments,” he said. Earlier in 2025, Flohr noted Vista was not pursuing an IPO.

Commenting on the impact of the war between the United States and Iran, he said that increased demand for the Maldives and Seychelles is offsetting reduced traffic in the Middle East, as high-end travellers bypass Middle Eastern hub connections in favour of private aviation.

According to Flohr, fuel prices are not materially affecting demand. “Fuel surcharges are a fraction of the hourly rate,” he said, adding that the first quarter of 2026 delivered the strongest subscription additions in Vista's history.