Not quite as the destroyers-for-bases deal was an agreement between the US and the UK on 2 Sep 1940, in which 50 obsolete US Navy destroyers were transferred to the Royal Navy in exchange for land rights on British possessions.
The agreement provided little military benefit to the UK.
It was valued chiefly for its diplomatic and propaganda value in demonstrating American support.
It was sharply criticised from anti-war Americans, who pointed out that the agreement violated the Neutrality Acts