Willis Lease Finance Proposes $337.4M Fixed Rate Notes Offering
Written by Emily J. Thompson, Senior Investment Analyst
Source: Globenewswire
Updated: 15 hour ago0mins
- Financing Plan: Willis Lease Finance's subsidiary WEST proposes to issue $337.4 million in Series A Fixed Rate Notes and $55.5 million in Series B Fixed Rate Notes to fund the acquisition of 47 aircraft engines and 2 airframes, thereby enhancing the stability of its asset portfolio.
- Asset Backing: The notes will be secured by WEST's direct and indirect interests in the aircraft engines and airframes, ensuring investor capital safety while providing the company with necessary liquidity to support its operations.
- Use of Proceeds: The net proceeds from the notes will be allocated to pay related fees, establish reserve accounts, and periodically pay WLFC for the acquired engines and airframes over a 270-day delivery period, aiming to optimize the company's financial structure and reduce financing costs.
- Compliance Statement: The notes are not registered under the Securities Act and are offered only to persons reasonably believed to be qualified institutional buyers, ensuring compliance with relevant laws and reducing legal risks while enhancing market confidence.
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About WLFC
Willis Lease Finance Corporation, along with its subsidiaries, is a lessor and servicer of commercial aircraft and aircraft engines. The Company operates through two segments: Leasing and Related Operations, and Spare Parts Sales. The Leasing and Related Operations segment involves acquiring and leasing, primarily pursuant to operating leases, commercial aircraft, aircraft engines and other aircraft equipment and the selective purchase and resale of commercial aircraft engines and other aircraft equipment and other related businesses. The Spare Parts Sales segment involves the purchase and resale of after-market engine parts, whole engines, engine modules and portable aircraft components. The Spare Parts Sales segment also enables the Company to provide end-of-life solutions for surplus aircraft and engines, as well as manage the full lifecycle of its lease assets. Its subsidiaries include WEST Engine Funding LLC, Willis Aeronautical Services, Inc., and Willis Asset Management Limited.
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Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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