Waypoint Leasing closed a $100 million term loan facility led by Lombard North Central. 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.
“Waypoint continues to execute on our financing strategy with the closing of this very attractive $100 million term loan facility,” said Alan Jenkins, CFO of Waypoint. “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.”
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.
“We are very pleased that Lombard has led this facility, closing a further financing and consolidating a very important lender relationship,” said Oliver Althoff, managing director of Capital Markets and Treasury for Waypoint. “This transaction adds additional and very attractive long-term financing to our debt maturity profile.”