Waypoint Leasing Expands Revolving Credit Facility to $468 Million
LIMERICK, Ireland & DARIEN, Conn.--(BUSINESS WIRE)--Waypoint Leasing (“Waypoint”), a leading global helicopter leasing company, today announced that it has increased the committed borrowing capacity under its five year revolving credit facility from $335 million in November 2013 to $468 million as of June 30, 2014. The facility bolsters Waypoint’s ability to continue adding attractive and diversified helicopter assets to its fleet, which today includes over 40 aircraft delivered and on lease. Financial institutions that have joined the facility the past six months include Barclays Bank PLC, Citi, RBC Capital Markets, and asset financier, Lombard. The facility includes an unfunded revolving accordion feature to expand the borrowing capacity further, up to $550 million.
“Our five year revolver is a very important credit facility for us, providing significant flexibility to grow the business and seamlessly execute on asset transactions for our customers. Upsizing our commitments to $468 million gives us further valuable capacity to respond quickly with scale to our customers’ needs.”
Alan Jenkins, CFO of Waypoint, said, “Our five year revolver is a very important credit facility for us, providing significant flexibility to grow the business and seamlessly execute on asset transactions for our customers. Upsizing our commitments to $468 million gives us further valuable capacity to respond quickly with scale to our customers’ needs.”
Oliver Althoff, MD of Capital Markets and Treasury, added, “We are delighted with the support we have received from the investment community and to welcome further lenders into the facility and broaden our relationships with major financial institutions. Their support is very important to us and is a continued validation of Waypoint’s success and market position.”
About Waypoint Leasing:
Waypoint Leasing, a global helicopter leasing company, provides worldwide financing solutions from the perspective of the operator and the end user. Waypoint’s senior management team has decades of direct helicopter operating and leasing experience and a first-hand understanding of operators’ needs for high quality aircraft, innovative financing solutions and strong, long-term relationships with service providers. Our team has leased and operated helicopters in more than 20 countries throughout Africa, Asia, Australia, Europe and North and South America – a true competitive advantage as we help operators modernize, grow and manage their helicopter fleets. We put operators first — always.
Further information is available at www.waypointleasing.com.