Public helicopter finance transactions

Borrower: Waypoint Leasing
Date: October 2015
Structure: Unsecured revolving credit facility increase
Lenders: Deutsche Bank and Goldman Sachs & Co (existing lead arrangers SunTrust Robinson Humphrey and MUFG Union)

Borrower: LCI Helicopters
Date: October 2015
Structure: Loan for four new AgustaWestland AW139s
Sole lender: Westpac Banking Corporation
Notes: Aircraft on lease to Australia’s Westpac Rescue Helicopter Service (North South Wales Ambulance)

Borrower: LCI Helicopters
Date: October 2015
Structure: 10 year loan for six new AgustaWestland AW139
Security trustee, agent, lender and hedge counterparty: Westpac Banking Corporation
Lender and hedge counterparty: National Australia Bank
Notes: Aircraft on lease to Australian Helicopters for Air Ambulance Australia

Borrower: Waypoint Leasing
Date: September 2015
Size: $200 million
Structure: senior secured notes
Joint placement agents: Goldman Sachs and SunTrust Robinson Humphrey
Senior co-placement agent: Mitsubishi UFJ Securities
Co-placement agents: Deutsche Bank, BNP Paribas and RBC Capital Markets
Notes: Three tranches: $125 million, $50 million and $45 million. Seven year average life. Can draw-down in dollars and Euros.

Borrower: Lease Corporation International
Date: July 2015
Structure: Master Murabaha facility agreement
Mandated lead arranger, security agent and inter-creditor agent: Lloyds Bank
Islamic finance participant: Bank of London and the Middle East

Borrower: Waypoint Leasing
Date: April 2015:
Size: $60 million
Structure
: unsecured loan
Lead arrangers: SunTrust Robinson Humphrey and MUFG Union Bank

Borrower: Waypoint Leasing
Date: March 2015
Size: $85 million loan
Lead arranger: Deutsche Bank

Borrower: Waypoint Leasing
Date: April 2015
Size: $40 million increase to $300 million Term Loan
Lead arranger: BNP Paribas, MUFG Union Bank, RBC Capital Markets and Wells Fargo Securities.

Borrower: Lease Corporation International
Date: December 2014
Size: $25 million
Structure: pre-delivery facility
Lead arranger: Bank of London and the Middle East

Borrower: Lobo Leasing
Date: December 2014
Size: $225 million (can be upsized to $325 million)
Structure: Term loan
Joint lead arrangers: Barclays Bank, Citi and Nomura

Borrower: Lease Corporation International
Date: October 2014
Size: $325 million facility (option to increase to $425 million)
J
oint lead arrangers and book runners: CIT Group, Inc., Nomura Corporate Funding Americas, LLC, and BNP Paribas.
Administrative agent and collateral agent: CIT
Co-syndication agents: Citibank, EverBank Financial Corp. and Barclays Bank PLC
Co-documentation agents: The Huntington National Bank and Lombard North Central
Participating lenders: Amalgamated Bank, Siemens Financial Services and National Australia Bank

Borrower: Waypoint Leasing
Date: September 2014
Size: $300 million revolver (can be expanded to $400 million)
Lead arrangers: BNP Paribas, MUFG Union Bank, RBC Capital Markets and Wells Fargo Securities
Lenders: Lombard, Sumitomo Mitsui Banking Corporation, Everbank Commercial Finance, Capital One, National Association

Borrower: Waypoint Leasing
Date: June 2014
Size: $133 million extension to November facility (option to expand to $550 million)
Lenders: Barclays Bank, Citi, RBC Capital Markets, Lombard

Borrower: Waypoint Leasing
Date: May 2014
Size: $72.5 million five-year term loan
Lead arranger: Goldman Sachs

Borrower: Milestone Aviation Group
Date: January 2014
Size: $ 200 million revolving credit line
Joint Lead Arranger and Sole Bookrunner: SunTrust Robinson Humphrey
Join lead arrangers: JPMorgan and Deutsche Bank
Participating lenders: Jefferies, Nomura, Bank of America, The Huntington National Bank.

Borrower: Milestone Aviation Group
Date: January 2014
Size: $575 million notes
Sole bookrunner and lead placement agent: Merrill Lynch, Pierce, Fenner & Smith
Co-lead placement agents: Deutsche Bank and Nomura Securities
Co-placement agents: Merrill, DB, Nomura, The Huntington Investment Company and SunTrust Robinson Humphrey

Borrower: Milestone Aviation Group
Date: December 2013
Size: $250 million 144a private bond placement
Bookrunners: Jefferies, Bank of America Merrill Lynch, and Nomura
Term: Five year
Coupon: 8.625%
Issue: 100
Yield: 8.625%
Rating: Unrated
Maturity 12/15/2017

Borrower: Waypoint Leasing
Date: November 2013
Size: $335 million revolver
Joint bookrunner and agent: Credit Suisse
Joint bookrunners: SunTrust Robinson Humphrey, CIT Finance
Lenders: Goldman Sachs, Union Bank., Fifth Third Bank and 1st Source Bank.

Borrower: Milestone Aviation Group
Date: July 2013
Size: $300 million credit facility
Mandated lead arranger and facility agent: Lloyds Bank
Lenders: Lombard and Barclays

Borrower: Milestone Aviation Group
Date: June 2013
Size: $187 million Ex-Im bond
Arranger: Deutsche Bank
Refinanced: March 2013 Ex-Im loan

Borrower: Milestone Aviation Group
Date: March 2013
Size: $187 million Ex-Im Loan
Arranger: Deutsche Bank
Notes: Financed nine Sikorsky S-92s on lease to Bond, Bristow, Lider, Omni. Later refinanced by bond.

Borrower: Milestone Aviation Group
Date: March 2012
Size: $265 million term loan
Arranger: Deutsche Bank
Participants: Nomura, Huntington Bank, CIT, 1st Source Bank, EverBank Commercial Finance and Credit Suisse

Borrower: Milestone Aviation Group
Date: February 2012
Size: $75 million loan
Arranger: SEB
Notes: Funded helicopters for Scandinavian operators

Borrower: Milestone Aviation Group
Date: February 2012
Size: $75 million loan
Arranger: SG
Notes: Facility to cover pre-delivery payments (PDP).

 

Alasdair Whyte

Alasdair launched Corporate Jet Investor and Helicopter Investor in 2010. He has more than 15 year's experience as a financial journalist and has specialised in aviation for much of this time. As well as editing the website, Alasdair helps to organise our international conferences and events. He also regularly chairs them as well as other industry gatherings.

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