Helicopter firm raises $100m term loan to boost capacity

Waypoint Leasing, the helicopter financing specialist partly owned by the Soros family, has agreed a $100 million (€88 million) term loan with Lombard North Central.

Limerick- and Connecticut-based Waypoint plans to refinance some of its existing aircraft and boost capacity to service customers and expand the business.

The debt is due to be repaid in six years and Waypoint can draw down the money in US dollars, euros and sterling.

The loan brings Waypoint’s total debt commitments to $1.4 billion and, once equity is included, total financing capacity to $1.85 billion.

Waypoint’s total assets are more than $1.5 billion. Its fleet is made up of more than 125 craft operating in 26 countries.

Alan Jenkins, the company's chief financial officer, said that the debt would free up further capacity for Waypoint.