13-Nov-2013 Source: Waypoint Leasing
Waypoint Leasing (Ireland) Limited (“Waypoint”), a leading global helicopter leasing company, today announced that it has closed on a five year US$335 million revolving credit facility that includes the ability to draw euro denominated loans and also includes an unfunded revolving accordion feature to expand the borrowing capacity up to US$550 million. 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 US$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 US$300 million by year end.”
Financial institutions involved in the facility, include:
This press release contains forward‐looking statements. Forward‐looking statements involve uncertainties, risks and assumptions, since these statements include information concerning Waypoint’s possible or assumed future results or performance, operations, business strategies, financing plans and potential growth opportunities. Forward‐looking statements speak only as of the date they were made, and Waypoint undertakes no obligation to update publicly or to revise any forward‐looking statements because of new information, future events or other factors. In light of the risks and uncertainties described above, the forward‐looking events and circumstances discussed herein might not occur and are not guarantees of future performance. Waypoint’s actual results and performance could differ substantially from those anticipated in its forward‐looking statements.
About Waypoint Leasing (Ireland) Limited
Waypoint is a global helicopter lessor providing aircraft and financing solutions to helicopter operators around the world. Headquartered in Limerick, Ireland, and with operations in Darien, CT, Waypoint partners with helicopter operators across a wide range of sectors, including oil and gas, emergency medical service, search and rescue, firefighting and governmental support. Further information is available athttp://www.waypointleasing.com/.