Waypoint Leasing closes $335m revolver facility

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Helicopter leasing company Waypoint Leasing has closed a five-year $335 million revolving credit facility to help support its growth plans.

Credit Suisse acted as joint lead arranger, joint bookrunner and administrative agent in the transaction. SunTrust Robinson Humphrey and CIT Finance were joint lead arrangers, joint bookrunners and co-syndication agents.

Lenders in the revolver facility include Goldman Sachs, Union Bank, Fifth Third Bank and 1st Source Bank.

The facility includes the ability to draw down euro-denominated loans with an unfunded revolving accordion feature to expand the borrowing capacity up to $550 million.

Waypoint chief financial officer Alan Jenkins says that the lessor has already closed a number of helicopter transactions and is positioned to expand its portfolio to more than $300 million by year-end.