Chicago, Oct. 19 – Willis Lease Finance Corp., via subsidiary Willis Engine Structured Trust VII, priced $410 million of 8% series A notes, according to a press release.
The notes priced at 98.84814.
The notes have an expected maturity of six years, an expected weighted average life of 4.6 years and a maturity of 25 years.
The notes are secured by, among other things, Willis Engine Structured Trust VII’s direct and indirect interests in a portfolio of 51 aircraft engines and four airframes.
Distribution is through Rule 144A and Regulation S.
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 Coconut Creek, Fla.-based lessor of commercial jet engines.
| Issuer: | Willis Lease Finance Corp.
|
| Amount: | $410 million
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| Issue: | Series A notes
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| Tenor: | 25 years
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| Coupon: | 8%
|
| Price: | 98.84814
|
| Trade date: | Oct. 19
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| Settlement date: | Oct. 31
|
| Distribution: | Rule 144A and Regulation S
|
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