Waypoint increases revolving credit facility by $37M

Waypoint increases revolving credit facility by $37M

11-May-2016 Source: Waypoint

Waypoint Leasing (Ireland) Limited (“Waypoint”), today announced that it has closed a revolving credit facility led by the Specialty Finance Lending unit of KeyBank, N.A. This facility provides additional revolving capacity to increase Waypoint’s total revolving credit facility commitments by $37 million to $575 million.  The company will use the proceeds of this transaction to refinance certain aircraft currently funded through cash.

Alan Jenkins, CFO of Waypoint, said, “This facility further expands our valuable revolving credit capacity, providing additional liquidity to support and service our customers and the helicopter industry. We recognize and appreciate KeyBank’s strong support over the past several years and look forward to ongoing collaboration as Waypoint continues to grow and evolve.”

Oliver Althoff, MD of Capital Markets and Treasury added, “Chris and his team at KeyBank understand the differentiation that Waypoint has brought to the helicopter leasing industry. Our teams worked very closely to structure a facility that provides great alignment between KeyBank and Waypoint.”

Chris Kytzidis, Director, KeyBank Specialty Finance Lending Group commented, “We are very excited to announce this transaction with Waypoint and the further development of our lending relationship. Waypoint has built a very attractive global leasing platform which provides significant value to the underlying helicopter industry.

This financing brings Waypoint’s total debt commitments to more than $1.5 billion, and together with its previously announced equity commitments, its total financing to over $1.9 billion. Waypoint’s acquired fleet includes more than 125 aircraft operating in 26 countries, with total assets in excess of $1.5 billion.

, , , , ,

Copyright © 2024 HeliHub

Website by Design Inc

Helihub logo

X