WLFC subsidiary enters $500M secured credit facility for aircraft engine acquisitions

WILLIS LEASE FINANCE CORP

Non-recourse warehouse credit facility of up to $500M, not guaranteed by WLFC.
Proceeds will finance acquisition of aircraft engines, airframes, and related loan assets.
Five-year term with two-year availability; interest at Term SOFR + 2.25% (initial margin).
Interest margin ranges from 2.25% to 3.75% based on applicable date.
Syndicate includes Bank of America, BNP Paribas, Crédit Agricole, MUFG, and Wells Fargo.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

WILLIS LEASE FINANCE CORP entered into Credit Agreement with a syndicate of banks including Bank of America, N.A. and BNP Paribas valued at $500 million (effective 2024-05-03).

Action: entry
Agreement: credit facility
Counterparty: a syndicate of banks including Bank of America, N.A. and BNP Paribas
Value: $500 million
Effective: 2024-05-03

Exact text from the filing

On May 3, 2024, Willis Warehouse Facility LLC (the “Borrower”), a wholly owned subsidiary of Willis Lease Finance Corporation (“WLFC” or the “Company”), entered into a Secured Credit Agreement by and among the Borrower, the lenders party thereto, Bank of Utah, not in its individual capacity but solely as Security Trustee and Administrative Agent, and Bank of America, N.A., as Facility Agent, dated as of May 3, 2024 (the “Credit Agreement”).

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Source: SEC EDGAR

accession 0001018164-24-000036

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