COCONUT CREEK, Fla., Feb 14 (Bernama-GLOBE NEWSWIRE) — Willis Lease Finance Corporation (NASDAQ: WLFC) (“Willis”), a leading lessor of commercial jet engines, announced today that its wholly-owned subsidiary, Willis Engine Securitization Trust II, to be renamed Willis Engine Structured Trust V (“WEST”) on or prior to the issuance date of the Notes, proposes to offer $366.2 million in aggregate principal amount of fixed rate notes (the “Notes”). It is expected that the Notes will be issued in three series, with the Series A Notes to be issued in an aggregate principal amount of approximately $303.0 million, the Series B Notes in an aggregate principal amount of approximately $42.1 million and the Series C Notes in an aggregate principal amount of approximately $21.1 million. The Notes will be secured by, among other things, WEST’s direct and indirect interests in a portfolio of 54 aircraft engines and three airframes, including 25 aircraft engines and three airframes which WEST will acquire from Willis pursuant to an asset purchase agreement. The remainder of the assets are currently owned by WEST.
- February 14, 2020
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