Willis Lease Finance Secures $1 Billion Credit Facility to Support Growth

Willis Lease Finance Corporation (WLFC) has entered into a new $1.0 billion, five-year revolving credit facility with Bank of America, N.A., replacing a previous $500 million agreement. The facility includes provisions for an additional $250 million increase, subject to lender conditions. This credit line will be available until October 31, 2029, and may be used for general corporate purposes. The interest rate is based on a floating rate (Term SOFR) plus a margin, with additional fees payable to Bank of America and participating lenders. WLFC must maintain specific financial ratios as part of the agreement. The new facility supports WLFC's growth in the aviation leasing sector, where it provides aircraft engines and related services worldwide. This move is expected to bolster WLFC's financial flexibility and support its expansion plans in the aviation industry.