Willis Lease Finance Commits to Offering of $335.7 Million in Fixed Rate Notes

Willis Lease Finance Corporation (WLFC) (“Willis”), a leading lessor of commercial jet engines, announced today that its wholly-owned subsidiary Willis Engine Structured Trust III (“WEST III”), has priced $335.7 million in aggregate principal amount of fixed rate notes (the “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.