Waypoint closes first term loan facility
Waypoint Leasing closes its first term loan facility, the facility was led by Goldman Sachs.
Waypoint Leasing has closed on a five year $72.5 million term loan facility led by Goldman Sachs. The new facility will be used to refinance certain existing helicopters previously acquired and financed under Waypoint’s recently upsized $385 million revolving credit facility.
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Alan Jenkins, CFO of Waypoint, said: “This transaction provides match funded, long-term financing for the underlying leases while also freeing up capacity in our revolving credit facility, enabling us to continue to build out our balance sheet and facilitate further growth of Waypoint’s platform. With our upsized credit facility and this term loan in place, we are extremely well positioned to finance future helicopter acquisitions and facilitate quick and seamless transactions with our large and growing customer base.”
Waypoint now has a total debt commitment of more than $450 million. With its previously announced equity commitments, provides more than $830 million to support helicopter leases.
Ed Washecka, CEO of Waypoint, said: “This is an innovative and highly efficient financing solution for a set of high quality assets. This loan helps reinforce Waypoint’s position as one of the most stable and reliable helicopter lessors in the market today.”
Waypoint’s acquired fleet includes 37 aircraft delivered and on lease with total value in excess of $400 million. Waypoint has headquarters in Limerick, Ireland and in Darien, Connecticut.