Waypoint Leasing Enters into Definitive Agreement to Sell Its Assets to Macquarie Group for $650 Million

Waypoint Leasing Holdings Ltd., the largest independent global helicopter leasing company, today announced that it and certain subsidiaries (Waypoint) have entered into an agreement to be purchased by Macquarie Group (Macquarie) for approximately $650 million. Macquarie Rotorcraft Leasing will combine the Waypoint helicopter assets and management platform with its own portfolio and employ the Waypoint staff.

To facilitate the completion of its sale to Macquarie, Waypoint has received commitments from a consortium of several of its existing lenders for $45 million of debtor-in-possession (DIP) financing. The DIP financing will provide Waypoint with ample liquidity to continue operating in the ordinary course during its Chapter 11 bankruptcy case.

This is a momentous step forward in achieving our goal to transform Waypoint, said Hooman Yazhari, Chief Executive Officer of Waypoint. With Macquaries strong balance sheet and incredible depth in aviation, the integrated platform will be the most dynamic in the industry. The expertise of our combined resources and human capital will give us an unparalleled foundation to bring stability and a long-term balance to a sector filled with uncertainty. We remain incredibly grateful for the support of our stakeholders throughout our transformation process, including our lenders, customers, OEMs and MROs and, above all, our employees who have worked tirelessly. We anticipate a speedy conclusion of the sale process, after which we and Macquarie will reach new heights, poised to capture the many opportunities ahead of us.

Stephen Cook, Global Head of Transportation Finance at Macquarie, commented, This transaction builds upon Macquaries strong franchise in the aviation finance sector. The Waypoint team has built a leading presence in the helicopter leasing market. Combining our own business and asset expertise, this is a transformative development for our current business. Macquarie Rotorcraft Leasing intends to build on this acquisition to be a pre-eminent provider of helicopter leasing and financing products.

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Macquaries acquisition of Waypoint is expected to close in the first quarter of 2019, subject to, among others, Bankruptcy Court and regulatory approval. Waypoint will continue to operate in the ordinary course of business until financial close.

About Macquarie Rotorcraft Leasing

Macquarie Rotorcraft Leasing is a full-service helicopter operating leasing business focused on the growing, worldwide demand for commercial helicopters in industries such as offshore oil and gas, medical transport, search and rescue, utility and executive transport. Macquarie Rotorcraft Leasing provides operators a progressive new approach to helicopter leasing and financing, designed to optimize fleet management and operational success. For more information, visit www.macquarierotorcraft.com.

About Macquarie Group

Macquarie Group (Macquarie) is a global provider of banking, financial, advisory, investment and funds management services. Macquaries main business focus is making returns by providing a diversified range of services to clients. Macquarie acts on behalf of institutional, corporate and retail clients and counterparties around the world. Founded in 1969, Macquarie operates in more than 70 office locations in 25 countries. Macquarie employs approximately 14,400 people and has assets under management of more than $381.8 billion (as of March 31, 2018). For further information, visit www.macquarie.com.

About Waypoint Leasing:

Waypoint is a global helicopter leasing company that provides operating lease and financing solutions to helicopter operators worldwide. Headquartered in Limerick, Ireland, Waypoint differentiates itself with a senior management team that has direct helicopter operating and leasing experience in key helicopter markets around the world, having leased helicopters across Africa, Asia, Australia, Europe, and North and South America. Waypoint serves a wide range of sectors including oil and gas, emergency medical service, search and rescue, governmental and humanitarian services, utility and firefighting and wind farm support. In addition to Ireland, Waypoint has offices in London, the United States, Canada, Hong Kong, Brazil and South Africa. Further information is available at www.waypointleasing.com.

Established in 2013, Waypoints fleet of more than 160 aircraft flying in 34 countries is supported by a global network of employees throughout its eight offices worldwide. Waypoints aircraft diversity and customization capabilities have led to its market-leading position across multiple mission segments, including oil and gas, emergency medical services (EMS), government and humanitarian services, utility and firefighting, search and rescue (SAR) and wind farm support.

Additional Information about the Restructuring Process

For Court filings and other documents related to the court-supervised process, please visit http://www.kccllc.net/waypointleasing, call 888-733-1446 (US and Canada) (for toll-free domestic calls) and 310-751-2635 (for tolled international calls), or email [email protected].

Advisors

Weil, Gotshal & Manges LLP is serving as legal counsel, Houlihan Lokey is serving as investment banker, and FTI Consulting, Inc. and Seabury Consulting (now part of Accenture) are serving as restructuring advisors.

Todd Kevin Wolynski, 516-662-5302
General Counsel and Chief
Administrative Officer
[email protected]

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