Friday, August 10, 2018

WILLIS LEASE ANNOUNCES OFFERING OF $373.4 MILLION IN FIXED RATE NOTES

NOVATO, Calif., Aug 9 (Bernama-GLOBE NEWSWIRE) -- Willis Lease Finance Corporation (NASDAQ: WLFC) (“Willis”), a leading lessor of commercial jet engines, announced today that its wholly-owned subsidiary, Willis Engine Structured Trust IV (“WEST IV”) proposes to offer $373.4 million in aggregate principal amount of fixed rate notes (the “Notes”). It is expected that the Notes will be issued in two series, with the Series A Notes to be issued in an aggregate principal amount of approximately $326.8 million and the Series B Notes in an aggregate principal amount of approximately $46.7 million. The Notes will be secured by, among other things, WEST IV’s direct and indirect interests in a portfolio of 55 aircraft engines and one airframe.


The net proceeds of the Notes will be applied, in part, to pay fees and expenses related to the issuance and to pay Willis periodically over a 270-day delivery period as consideration for the aircraft engines and the airframe acquired by WEST from Willis in the financing. Willis will apply the net proceeds it receives to repay certain amounts drawn under Willis’ revolving credit facility and the remainder will be used for general corporate purposes.
http://mrem.bernama.com/viewsm.php?idm=32451

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