Willis Lease Finance Corporation (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”), has priced $366.2 million in aggregate principal amount of fixed rate notes (the “Notes”). As previously announced, the Notes will be issued in three series, with the Series A Notes to be issued in an aggregate principal amount of $303.0 million, the Series B Notes in an aggregate principal amount of $42.1 million and the Series C Notes in an aggregate principal amount of $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. The planned closing date is March 3, 2020.

The Series A Notes will have a fixed coupon of 3.228%, an expected maturity of approximately eight years, an expected weighted average life (based on certain modeling assumptions) of 6.5 years and a final maturity of 25 years, the Series B Notes will have a fixed coupon of 4.212%, an expected maturity of approximately eight years, an expected weighted average life (based on certain modeling assumptions) of 6.5 years and a final maturity of 25 years and the Series C Notes will have a fixed coupon of 6.657%, an expected maturity of approximately eight years, an expected weighted average life (based on certain modeling assumptions) of 4.0 years and a final maturity of 25 years. The Series A Notes will be issued at a price of 99.99859% of par, the Series B Notes will be issued at a price of 99.99493% of par and the Series C Notes will be issued at a price of 99.99918% of par.