Willis Lease Finance closes new and expanded revolving credit facility for $345m

Willis Lease Finance Corporation has closed a new revolving credit facility. The $345m credit facility, with an interest rate equal to LIBOR plus 2.75%, is available to Willis Lease on a revolving basis for five years through November 2016. The credit facility is provided by a syndicate of banks led by Union Bank, N.A., as Administrative Agent, Joint Lead Arranger and Sole Bookrunner, Wells Fargo Bank, National Association as Syndication Agent, Wells Fargo Securities, LLC as Joint Lead Arranger, and U.S. Bank, N.A., as Documentation Agent and Joint Lead Arranger. This credit facility and other credit facilities support the company and its subsidiaries in financing its lease portfolio which stood at $961m as of September 30, 2011.