Waypoint Leasing closes $100 million term loan

Waypoint Leasing has closed a $100 million term loan facility led by Lombard North Central Plc.

The facility has a maturity of approximately six years and provides for dollar, euro and sterling funding capacity on a delayed draw basis. The company will use the proceeds of this transaction to refinance certain aircraft in its revolving credit facility, further expanding capacity to support its customers and the expansion of the business.

“Waypoint continues to execute on our financing strategy with the closing of this very attractive $100 million term loan facility.”

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, said: “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 financing brings Waypoint’s total debt commitments to more than $1.4 billion, and together with its previously announced equity commitments, its total financing to more than $1.85 billion. Waypoint’s acquired fleet includes more than 125 aircraft operating in 26 countries, with total assets in excess of $1.5 billion.