Waypoint Leasing Closes Further Revolving Credit Facility

May 13, 2016

Waypoint Leasing (Ireland) Limited (“Waypoint”), the largest independent global helicopter leasing company, today announced that it has closed a revolving credit facility led by the Specialty Finance Lending unit of KeyBank, N.A. (“KeyBank”). 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.

 

About KeyCorp:

The Specialty Finance Lending unit of KeyBank, NA provides structured financing solutions to transportation and general equipment lessors. KeyCorp was organized more than 160 years ago and is headquartered in Cleveland, Ohio.  One of the nation’s largest bank-based financial services companies, Key has assets of approximately $98.4 billion, as of March 31, 2016.  Key provides deposit, lending, cash management and investment services to individuals and small and mid-sized businesses in 12 states under the name KeyBank National Association.  Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name.  For more information, visit https://www.key.com/.  KeyBank is Member FDIC.

 

Media Contacts

Andrew Cole/Jared Levy

Sard Verbinnen & Co

212-687-8080

waypoint-svc@sardverb.com