Willis Lease Announces Offering of $373.4 Million in Fixed Rate Notes
2018年8月9日 - 5:58AM
Willis Lease Finance Corporation (NASDAQ: WLFC) (“Willis”), a
leading lessor of commercial jet engines, announced today that its
wholly-owned subsidiary, Willis Engine Structured Trust IV (“WEST
IV”) proposes to offer $373.4 million in aggregate principal amount
of fixed rate notes (the “Notes”). It is expected that the
Notes will be issued in two series, with the Series A Notes to be
issued in an aggregate principal amount of approximately $326.8
million and the Series B Notes in an aggregate principal amount of
approximately $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 net proceeds of the Notes will be applied, in part, to pay
fees and expenses related to the issuance and to pay Willis
periodically over a 270-day delivery period as consideration for
the aircraft engines and the airframe acquired by WEST from Willis
in the financing. Willis will apply the net proceeds it
receives to repay certain amounts drawn under Willis’ revolving
credit facility and the remainder will be used for general
corporate purposes.
The Notes being offered by WEST IV have not been and will not be
registered under the Securities Act of 1933, as amended (the
“Securities Act”), and may not be offered or sold in the United
States absent registration or an applicable exemption from
registration requirements. The Notes are being offered only
to qualified institutional buyers under Rule 144A under the
Securities Act and outside the United States to non-U.S. persons in
reliance in Regulation S under the Securities Act.
This news release shall not constitute an offer to sell or
solicitation of an offer to buy, nor shall there be any sale of,
the Notes in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such jurisdiction. This news
release is being issued pursuant to and in accordance with Rule
135c under the Securities Act.
Except for historical information, the matters discussed in this
press release contain forward-looking statements that involve risks
and uncertainties. Do not unduly rely on forward-looking
statements, which give only expectations about the future and are
not guarantees. Forward-looking statements speak only as of
the date they are made, and we undertake no obligation to update
them. Our actual results may differ materially from the
results discussed in forward-looking statements. Factors that
might cause such a difference include, but are not limited to: the
effects on the airline industry and the global economy of events
such as terrorist activity, changes in oil prices and other
disruptions to the world markets; trends in the airline industry
and our ability to capitalize on those trends, including growth
rates of markets and other economic factors; risks associated with
owning and leasing jet engines and aircraft; our ability to
successfully negotiate equipment purchases, sales and leases, to
collect outstanding amounts due and to control costs and expenses;
changes in interest rates and availability of capital, both to us
and our customers; our ability to continue to meet the changing
customer demands; regulatory changes affecting airline operations,
aircraft maintenance, accounting standards and taxes; the market
value of engines and other assets in our portfolio; and risks
detailed in Willis’ Annual Report on Form 10-K and other continuing
reports filed with the Securities and Exchange Commission.
CONTACT: Scott B. FlahertyChief Financial
Officer (415) 408-4700
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