Willis Lease Announces $390MM Senior Secured Notes Offering
Published September 7, 2012
Categories: Industry News
Willis Lease Finance Corporation (WLFC), a lessor of commercial jet engines, said it proposes to offer $390 million of senior secured notes through Willis Engine Securitization Trust II.
The net proceeds of the Notes, together with borrowings under WLFC’s existing revolving credit facility, will be used to repay notes previously issued by Willis Engine Securitization Trust. The Notes are a single class issued by a straightforward securitization vehicle that will acquire 79 aircraft engines from WLFC.
The Notes being offered by WEST II have not been and will not be registered under the Securities Act of 1933, as amended, 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 qualified institutional buyers under Rule 144A under the Securities Act, to institutional accredited investors and outside the United States to non-U.S. persons in reliance in Regulation S under the Securities Act.