Willis Lease Announces Pricing of $410.0 Million in Fixed Rate Notes
19 Outubro 2023 - 9:06PM
Willis Lease Finance Corporation (NASDAQ: WLFC) (“Willis”), a
leading lessor of commercial jet engines, announced today that its
wholly-owned subsidiary, Willis Engine Structured Trust VII
(“WEST”), has priced $410.0 million in aggregate principal amount
of fixed rate notes (the “Notes”). The Notes will be secured by,
among other things, WEST’s direct and indirect interests in a
portfolio of 51 aircraft engines and four airframes. The planned
closing date is October 31, 2023.
The Notes will have a fixed coupon of 8.000%, an
expected maturity of approximately six years, an expected weighted
average life (based on certain modeling assumptions) of 4.6 years
and a final maturity of 25 years. The Notes will be issued at a
price of 98.84814% of par.
The Notes have not been and will not be
registered under the Securities Act of 1933, as amended (the
“Securities Act”), or any other securities laws of any
jurisdiction, and may not be offered or sold in the United States
absent registration or an applicable exemption from registration
requirements. The Notes are being offered only to persons
reasonably believed to be “qualified institutional buyers” as
defined in, and in reliance on, Rule 144A under the Securities Act
and outside the United States to non-U.S. persons in accordance
with Regulation S under the Securities Act.
This news release shall not constitute an offer
to sell or a solicitation of an offer to buy, nor shall there be
any sale of, the Notes in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.
This news release is being issued pursuant to and in accordance
with Rule 135c under the Securities Act.
Willis Lease Finance
Corporation
Willis Lease Finance Corporation leases large
and regional spare commercial aircraft engines, auxiliary power
units and aircraft to airlines, aircraft engine manufacturers and
maintenance, repair and overhaul providers worldwide. These leasing
activities are integrated with engine and aircraft trading, engine
lease pools and asset management services through Willis Asset
Management Limited, as well as various end-of-life solutions for
engines and aviation materials provided through Willis Aeronautical
Services, Inc. Additionally, through Willis Engine Repair Center®,
Jet Centre by Willis, and Willis Aviation Services Limited, the
Company’s service offerings include Part 145 engine maintenance,
aircraft line and base maintenance, aircraft disassembly, parking
and storage, airport FBO and ground and cargo handling
services.
Except for historical information, the matters
discussed in this press release contain forward-looking statements
that involve risks and uncertainties. Do not unduly rely on
forward-looking statements, which give only expectations about the
future and are not guarantees. Forward-looking statements speak
only as of the date they are made, and we undertake no obligation
to update them. Our actual results may differ materially from the
results discussed in forward-looking statements. Factors that might
cause such a difference include, but are not limited to: the
effects on the airline industry and the global economy of events
such as terrorist activity and global pandemics; changes in oil
prices and other disruptions to the world markets; trends in the
airline industry and our ability to capitalize on those trends,
including growth rates of markets and other economic factors; risks
associated with owning and leasing jet engines and aircraft; our
ability to successfully negotiate equipment purchases, sales and
leases, to collect outstanding amounts due and to control costs and
expenses; changes in interest rates and availability of capital,
both to us and our customers; our ability to continue to meet
changing customer demands; regulatory changes affecting airline
operations, aircraft maintenance, accounting standards and taxes;
the market value of engines and other assets in our portfolio; and
risks detailed in Willis’ Annual Report on Form 10-K and other
continuing reports filed with the Securities and Exchange
Commission.
CONTACT: |
Scott B. Flaherty |
|
Chief Financial Officer |
|
(561) 349-9989 |
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