Waypoint Closes $87M Term Loan Facility

Waypoint Closes $87M Term Loan Facility 7 Sep, 17, Source: Waypoint Leasing

Waypoint Leasing (“Waypoint”), the largest independent global helicopter leasing company, today announced that it has closed on a new US$87.5 million term loan facility led by Sumitomo Mitsui Banking Corporation (SMBC) and MUFG with 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 & 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 recognise 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, MD 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. The addition of Asia-Pacific based lenders as part of this transaction will further facilitate opportunities for regional engagement and growth.  This facility is well-structured, backed by a very attractive portfolio of aircraft and enables Waypoint to continue to support our customers for the long-term”

Koichi Tanaka, General Manager of Global Aviation and Maritime Finance Department at SMBC Europe said, “We are pleased to announce this term-loan transaction with Waypoint.  Our support reflects the prominent role Waypoint has established in the helicopter leasing market, and we look forward to opportunities to support their continued success.”

Since its inception in 2013, Waypoint has been active in supporting oil and gas, utility, firefighting and other industrial-focused helicopter operators.  Waypoint’s portfolio includes more than 145 aircraft for 32 customers in 30 countries with total assets in excess of $1.6 billion.  Additionally, Waypoint has firm and option orders with aircraft manufacturers for more than 95 helicopters valued at more than $1.2 billion, to be delivered over the next five years.

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