Helicopter lessor Waypoint Leasing has closed on a five-year, $72.5 million term loan facility led by Goldman Sachs.
The facility will be used to refinance helicopters previously acquired and financed under Waypoint’s recently upsized $385 million revolving credit facility, says the Irish-based lessor. The additional debt capacity intended to continue Waypoint’s significant build-out of an attractive and diversified fleet of helicopter assets.
“This transaction provides match -unded, long-term financing for the underlying leases while also freeing up capacity in our revolving credit facility, enabling us to continue to build out our balance sheet and facilitate further growth of Waypoint’s platform,” says chief financial officer Alan Jenkins.
The transactions brings Waypoint’s total debt commitments to more than $450 million, and together with its previously announced equity commitments, provides more than $830 million to support helicopter lease transactions. Waypoint’s acquired fleet includes 37 aircraft delivered and on lease with total value in excess of $400 million.