Waypoint Leasing increases revolving credit facility to $468m

Ed Washecka, CEO of Waypoint Leasing, is speaking later this morning.

Waypoint Leasing expands the borrowing capacity under its revolving credit facility.

Waypoint Leasing’s exhibit at Helitech International 2013.

Waypoint Leasing, a helicopter leasing company, has increased the committed borrowing capacity under its five year revolving credit facility from $335 million to $468 million.

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Waypoint can now add more helicopters to its fleet, increasing the number from 40. Financial institutions that have joined the facility the past six months include Barclays Bank PLC, Citi, RBC Capital Markets and Lombard. The facility includes an unfunded revolving accordion feature to expand the borrowing capacity further, up to $550 million.

Alan Jenkins, CFO of Waypoint, said: “Our five year revolver is a very important credit facility for us, providing significant flexibility to grow the business and seamlessly execute on asset transactions for our customers. Upsizing our commitments to $468 million gives us further valuable capacity to respond quickly with scale to our customers’ needs.”

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Oliver Althoff, managing director of capital markets and treasury, added: “We are delighted with the support we have received from the investment community and to welcome further lenders into the facility and broaden our relationships with major financial institutions. Their support is very important to us and is a continued validation of Waypoint’s success and market position.”