Story ID: 138WaypointAIN0817
Waypoint Leasing Extends Credit Facilities
By: Mark Huber
Caption: The company will use the funds to support aircraft and continue customer financing.
Word Count: 192
Helicopter leasing company Waypoint has extended the maturity on two revolving credit facilities. The amount involves $390 million among seven lenders, with approximately $100 million maturing in late 2019 and $280 million in late 2020. The company will use the proceeds to support aircraft orders and customer financing.

Waypoint CEO Ed Washecka said the transactions “increase our financial flexibility and come at a time when we are seeing some level of recovery in our markets. This gives us further power to support our operator customers in exploiting that trend through our appetite for sale-and-leaseback transactions or from our order book or from...remarketing our inventory.”

Alan Jenkins, CFO and COO of Waypoint, said the extensions will allow the company to continue to support customers as it navigates “the current challenging market conditions.”

To date, Waypoint has obtained financing in the bank, export credit and debt capital markets. Waypoint’s acquired fleet of 147 aircraft has 31 lessees, operating in 31 countries, with total assets of $1.6 billion. The company has firm orders and options for helicopters valued at $1.3 billion composed primarily of light twins to super-medium twins focused on EMS and utility operators.