Willis Lease Finance gets $240 million three-year revolving facility

By Sara Rosenberg

New York, Nov. 23 - Willis Lease Finance Corp. closed on a new $240 million three-year revolving credit facility, according to a news release.

Union Bank acted as the lead arrangers and administrative agent, and Wells Fargo acted as the co-lead arranger.

Pricing on the revolver is Libor plus 350 basis points.

There is a $60 million accordion feature.

This credit facility and other credit facilities support the company and its subsidiaries in financing its lease portfolio, which stood at $921 million as of Sept. 30.

Willis Lease is a Novato, Calif.-based lessor of commercial jet engines.

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