LIMERICK, Ireland--(BUSINESS WIRE)--Waypoint Leasing (Ireland) Limited (“Waypoint”), the largest independent global helicopter leasing company, today announced that it has closed on a $100 million term loan facility led by Lombard North Central Plc (“Lombard”). The facility has a maturity of approximately six years and provides for USD, EUR and GBP 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.
Alan Jenkins, CFO of Waypoint, said, “Waypoint continues to execute on our financing strategy with the closing of this very attractive $100 million term loan facility. 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.”
Oliver Althoff, MD of Capital Markets and Treasury added, “We are very pleased that Lombard has led this facility, closing a further financing and consolidating a very important lender relationship. This transaction adds additional and very attractive long-term financing to our debt maturity profile.”
Mark Jamieson, Head of Helicopter Finance at Lombard commented, “We're delighted to announce this transaction with Waypoint. 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 over $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.
About Waypoint Leasing:
Waypoint Leasing is a global helicopter leasing company that provides operating lease and financing solutions to helicopter operators worldwide. Headquartered in Limerick, Ireland, Waypoint Leasing differentiates itself with a senior management team that has direct helicopter operating and leasing experience in key helicopter markets around the world, having leased helicopters across Africa, Asia, Australia, Europe and North and South America. Waypoint Leasing serves a wide range of sectors including oil and gas, emergency medical service, search and rescue, firefighting and governmental support. Further information is available at www.waypointleasing.com.
As the largest asset financer provider in the UK and voted Best Leasing
& Asset Finance Provider by Business Moneyfacts for eight consecutive
years from 2009 to 2016, Lombard provides various forms of asset finance
to many different types of businesses, from SMEs to large multi-national
corporates. Products range from Hire Purchase, Finance Lease, Operating
Lease, to Sale and Leaseback, as well as specialist divisions that
provide funding for manufacturing, sustainable and green energy,
agriculture and technology products, as well as a specialist aviation,
rail and commercial marine team.