Another $100M for Waypoint takes total financing to more than $1.85 Billion

Waypoint Leasing has closed on a $100 million term loan facility led by Lombard North Central Plc, providing for dollar, euro and sterling funding capacity on a delayed draw basis.

The company will use the funds provided by this transaction to refinance certain aircraft in its revolving credit facility, further expanding capacity to support its customers and the expansion of the business.

Alan Jenkins, chief financial officer of Waypoint, said:

“This facility will free up further debt capacity for Waypoint, allowing us to support our helicopter operator customers with leasing solutions and provide operational and financial flexibility in the current challenging market.”

Mark Jamieson, head of helicopter finance at Lombard, added:

“The funding support we’ve provided is indicative of our long-term involvement in rotary wing assets, as well as in Waypoint’s ongoing success. This deal is a great example of how Lombard can support strategic growth amongst both global lessors and operators.”

This takes the total debt commitments of Waypoint to over $1.4 billion, and together with its previously announced equity commitments, its total financing to more than $1.85 billion. The leasing company fleet includes more than 125 aircraft operating in 26 countries, with total assets in excess of $1.5 billion.

Borrower: Waypoint Leasing
Date: 19 April 2016
Size: $100 million
Structure: Secured loan
Term: Six years
Notes: Can be drawn in dollars, euros and sterling. Used to refinance aircraft Waypoint’s revolving credit facility and aircraft being delivered in 2016 and 2017.