Waypoint Leasing places $200 million senior secured notes

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By TESTCustomwebLP TESTCustomwebLP September 10, 2015 20:49

Waypoint Leasing places $200 million senior secured notes

Waypoint Leasing, an independent global helicopter leasing company, has closed the private placement of $200 million of senior secured notes, representing Waypoint’s inaugural capital markets financing.

The senior secured notes have a maturity of seven years, split across three tranches, providing for both USD and EUR funding capacity on a delayed draw basis. The company will use the proceeds to fund the continued expansion of the business and to free up further capacity under its secured revolving credit facility.

The notes were offered to a select group of leading institutional investors from top life insurance and pension companies. Goldman Sachs and SunTrust Robinson Humphrey served as joint placement agents; Mitsubishi UFJ Securities served as senior co-placement agent; and Deutsche Bank Securities, BNP Paribas Securities and RBC Capital Markets served as co-placement agents.

“Waypoint has now achieved the scale and the related credit rating to support the very attractive execution of our first capital markets transaction, a landmark financing for the business,” said Ed Washecka, CEO of Waypoint. “Through this transaction and with the support of our placement agents, we are delighted to add marquee institutional investors to our already well-established lender base.”

This financing brings Waypoint’s total debt commitments to more than $1.3 billion and, together with its previously announced equity commitments, its total financing to over $1.75 billion. Waypoint’s acquired fleet includes 108 aircraft operating in 25 countries, with total assets of $1.3 billion.

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By TESTCustomwebLP TESTCustomwebLP September 10, 2015 20:49