Willis Lease Finance announced its wholly-owned subsidiary Willis Engine Structured Trust III (WEST III), has priced $335.7 million in aggregate principal amount of fixed rate notes.

As previously announced, the notes will be issued in two series, with the series A notes to be issued in an aggregate principal amount of $293.7 million and the series B notes in an aggregate principal amount of $42 million.

The notes will be secured by, among other things, WEST III’s direct and indirect interests in a portfolio of 56 aircraft engines. The planned closing date is on or around August 4, 2017.

The series A notes will have a fixed coupon of 4.69%, an expected maturity of approximately 10 years, an expected weighted average life (based on certain modeling assumptions) of 7.59 years and a final maturity of 25 years and series B notes will have a fixed coupon of 6.36%, an expected maturity of approximately 10 years, an expected weighted average life (based on certain modeling assumptions) of 7.59 years and a final maturity of 25 years. The series A notes will be issued at a price of 99.91487% of par and the series B notes will be issued at a price of 98.29606% of par.