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Willis Lease to offer $336.7 million Rule 144A notes in three parts
By Devika Patel
Knoxville, Tenn., April 30 – Willis Lease Finance Corp. subsidiary Willis Engine Structured Trust VI plans a $336.7 million Rule 144A private offering of fixed-rate notes in three tranches, according to a press release.
The company will sell $278.6 million of series A notes, $38.7 million of series B notes and $19.4 million of series C notes.
The notes will be secured by, among other things, Willis Engine Structured Trust VI’s direct and indirect interests in a portfolio of 29 aircraft engines and one airframe.
Proceeds will be used to pay Willis Lease Finance periodically over a 270-day delivery period as consideration for the aircraft engines.
Willis Lease Finance is a Novato, Calif.-based lessor of commercial jet engines.
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