Willis Lease Finance Corporation Announces Closing of $596.0 Million in Fixed Rate Notes

Core Points - Willis Lease Finance Corporation (WLFC) announced the completion of an offering of $524 million in Series A Fixed Rate Notes and $72 million in Series B Fixed Rate Notes [1] - The Notes are secured by a portfolio of 62 aircraft engines and two airframes, which will be acquired from WLFC or its subsidiaries [2] - The Series A Notes have a fixed coupon of 5.582% and the Series B Notes have a fixed coupon of 6.070%, with an expected maturity of approximately six years [3] Summary by Category Financial Offering - WLFC's wholly-owned subsidiary, Willis Engine Structured Trust VIII (WEST), completed an offering totaling $596 million in aggregate principal amount [1] - The final subscription for the Series A Notes was 3.60x (gross) and 5.10x (available), while the Series B Notes had a final subscription of 7.15x (gross) and 13.00x (available) [2] Notes Details - Series A Notes and Series B Notes have an expected weighted average life of 5.1 years and a final maturity of 25 years [3] - The Series A Notes were issued at a price of 99.99721% of par, and the Series B Notes at 99.99711% of par [3] Company Overview - WLFC specializes in leasing commercial aircraft engines and provides various aviation services, including engine maintenance and asset management [6] - The company also focuses on sustainable aviation initiatives through its Willis Sustainable Fuels division [6]