Willis Lease Finance’s wholly-owned subsidiary, Willis Engine Structured Trust IV (WEST IV), priced $373.4 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 $326.8 million and the Series B notes in an aggregate principal amount of $46.7 million. The notes will be secured by, among other things, WEST IV’s direct and indirect interests in a portfolio of 55 aircraft engines and one airframe. The planned closing date is August 22, 2018.

The Series A notes will have a fixed coupon of 4.750%, an expected maturity of approximately eight years, an expected weighted average life (based on certain modeling assumptions) of 6.3 years and a final maturity of 25 years. The Series B notes will have a fixed coupon of 5.438%, an expected maturity of approximately eight years, an expected weighted average life (based on certain modeling assumptions) of 6.3 years and a final maturity of 25 years. The Series A notes will be issued at a price of 99.99504% of par and the Series B notes will be issued at a price of 99.99853% of par.