debt
confidence high
sentiment neutral
materiality 0.55
WLFC subsidiary WEST offers $392.9M in notes secured by 47 engines and 2 airframes
WILLIS LEASE FINANCE CORP
- Offering includes $337.4M Series A and $55.5M Series B fixed rate notes by wholly-owned subsidiary Willis Engine Structured Trust IX.
- Notes secured by portfolio of 47 aircraft engines and 2 airframes to be acquired from WLFC over a 270-day delivery period.
- Net proceeds primarily used to pay fees, fund reserve accounts, and provide consideration to WLFC for asset purchase.
- WLFC to use its portion of proceeds to repay collateralized debt and for general corporate purposes.
- Notes offered as private placement to QIBs under Rule 144A and non-U.S. persons under Regulation S.