Willis Lease issues $335.7 million notes

Willis Lease issues $335.7 million notes

Engine lessor Willis Lease Finance Corporation has has offered $335.7 million in fixed rate notes secured with a portfolio of 56 aircraft engines.

The notes are offered in two tranches, with a Series A tranche of $293.6 million and Series B notes worth $42 million. The offering is being issued through Willis’ subsidiary – Willis Engine Structured Trust III (WEST).

WEST will use the proceeds from the notes to pay fees related to the issuance, to pay Willis for the acquisition of the engine portfolio and use the remaining funds for general corporate purposes.

Issuer: Willis Engine Structured Trust III
Amount: $335.7 million
Tranches: Two
Assets: 56 aircraft engines

Alex Baldwin
By Alex Baldwin July 20, 2017 09:54