Order Book Value Exceeds $1.4 Billion; $1.7 Billion of Capital Raised To Date
Limerick, Ireland – April 20, 2015 – Waypoint Leasing (“Waypoint”), the largest independent global helicopter leasing company, today announced that it has acquired and placed on lease over 100 aircraft, less than 24 months since launch. Additionally, Waypoint raised a further $185 million in the first quarter of 2015 through the execution of three debt facilities, including the company’s first unsecured facility. The company will use the proceeds to support its customers through the provision of further liquidity into the global helicopter market.
Waypoint’s fleet, which ranges from light single engine to heavy twin engine helicopters delivered from Finmeccanica – AgustaWestland, Airbus Helicopters, Bell Helicopter and Sikorsky Aircraft Corporation, now includes over 100 aircraft on lease with 13 customers operating in 22 countries around the world, with total assets in excess of $1.2 billion. Additionally, Waypoint has firm and option orders with aircraft manufacturers for more than 95 helicopters valued at more than $1.4 billion, to be delivered over the next five years.
Ed Washecka, CEO of Waypoint, said, “We appreciate the tremendous support of our customers and financial and operating partners who are key to the success of our business. We differentiate our business by leveraging our deep helicopter operating and leasing experience across our global platform, enabling us to be responsive and flexible for our customers. Through a combination of our acquired portfolio and our order book, we are extremely well positioned to continue to meet customer demand for helicopter services and financing solutions in the years ahead”.
Alan Jenkins, CFO of Waypoint, added, “We continue to execute on our financing strategy through the closing of three facilities in the first quarter of 2015, including our first unsecured revolving credit facility, providing us with further liquidity and flexibility. As we have successfully scaled the business, our cost of capital has continued to decrease, a benefit we continue to bring to the industry. We are proud that our success in the market has allowed us to attract some of the world’s most renowned financial institutions to act as lead arrangers for our debt financing transactions.”
The combined $185 million in debt facilities include:
• A $60 million unsecured Revolving Credit Facility, co-led by SunTrust Robinson Humphrey, Inc. and MUFG Union Bank, N.A.;
• An $85 million 5 year Term Loan led by Deutsche Bank AG; and
• A $40 million increase to a $300 million Term Loan, co-led by BNP Paribas, MUFG Union Bank, N.A., RBC Capital Markets and Wells Fargo Securities.
This financing brings Waypoint’s total debt commitments to more than $1.2 billion, and together with its previously announced equity commitments, its total financing to $1.7 billion to support helicopter lease transactions for its diverse customer base.