Independent jet engine lessor Willis Lease Finance has expanded its US$890 million revolving credit facility to US$1.0 billion. The facility has a 5-year term and is structured with the flexibility to support WLFC’s growing business.
Willis Lease and its subsidiaries will use the expanded credit facility to continue growing its lease portfolio, which included nearly US$2.0 billion of owned and managed assets as of March 31, 2019. The US$1.0 billion revolving credit facility has a US$300 million accordion feature allowing for expansion up to US$1.3 billion.
The facility is provided by a syndicate of seventeen banks including: MUFG Bank, Ltd./MUFG Union Bank N.A., as Administrative Agent, Joint Lead Arranger, Joint Bookrunner, and Security Agent; Bank of America, N.A. as Joint Lead Arranger, Joint Bookrunner and Syndication Agent; Wells Fargo Securities, LLC/Wells Fargo Bank, National Association as Joint Lead Arranger, Joint Bookrunner and Documentation Agent; and U.S. Bank National Association, City National Bank, and The Huntington National Bank as Senior Managing Agents.