Daily News: November 14, 2013

Credit Suisse Arranges Waypoint Leasing $335MM Revolver

Waypoint Leasing announced that it closed on a five-year $335 million revolving credit facility that includes an unfunded revolving accordion feature to expand the borrowing capacity up to $550 million. Credit Suisse acted as joint lead arranger, joint bookrunner and administrative agent.

SunTrust Robinson Humphrey and CIT Finance acted as joint lead arrangers, joint bookrunners and co-syndication agents; and Goldman Sachs, Union Bank, Fifth Third Bank and 1st Source Bank, were lenders.

The facility will be used to execute on Waypoint’s growth strategy and to build out the business through the acquisition of an attractive and diversified fleet of helicopter assets.

Ed Washecka, CEO of Waypoint, said, “Coupled with our sponsors’ equity investment of $375 million announced earlier this year, the five-year revolver is a transformative addition to our capital structure. Over the medium-term, it will provide us with significant flexibility to build out the business and to execute quickly and efficiently on behalf of our growing customer base.”

Alan Jenkins, CFO of Waypoint, added, “We are delighted with the support we have received from the investment community. Closing on a revolver is a testament to Waypoint’s early success and our market position. We have already closed a number of very attractive helicopter transactions and are positioned to build our portfolio to over $300 million by year end.”