Waypoint Leasing closed a revolving credit facility led by the specialty finance lending unit of KeyBank. The facility will provide additional revolving capacity to increase Waypoint’s total revolving credit facility commitments by $37 million to $575 million. The company will use the proceeds of this transaction to refinance certain aircraft currently funded through cash.

“This facility further expands our valuable revolving credit capacity, providing additional liquidity to support and service our customers and the helicopter industry,” said Alan Jenkins, CFO of Waypoint. “We recognize and appreciate KeyBank’s strong support over the past several years and look forward to ongoing collaboration as Waypoint continues to grow and evolve.”

“We are very excited to announce this transaction with Waypoint and the further development of our lending relationship,” said Chris Kytzidis, director of KeyBank Specialty Finance Lending Group. “Waypoint has built a very attractive global leasing platform which provides significant value to the underlying helicopter industry.”

This financing brings Waypoint’s total debt commitments to more than $1.5 billion, and together with its previously announced equity commitments, its total financing to over $1.9 billion. Waypoint’s acquired fleet includes more than 125 aircraft operating in 26 countries, with total assets in excess of $1.5 billion.