Global helicopter leasing company Waypoint Leasing closed on a new $87.5 million term loan facility led by Sumitomo Mitsui Banking (SMBC) and MUFG.

The facility features a further accordion capacity to upsize the transaction in the future. The company will use the proceeds to refinance aircraft from its warehouse facility to support its customers and global market growth with additional liquidity.

Alan Jenkins, CFO and COO of Waypoint, said, “We are very pleased that SMBC and MUFG have led this latest financing facility for Waypoint, SMBC will also act as agent for the lender group. Lenders recognize the value of Waypoint’s global platform and leading position in the helicopter leasing sector, which has bolstered our strength through a challenging market environment.”

Oliver Althoff, managing director of Capital Markets and Treasury at Waypoint, added, “Waypoint continues to execute on our financing strategy and is very excited to have additional new lenders join the leads and Waypoint’s diversified bank group.”