Willis Lease Finance Corp Expands Credit Facility to $1.75B

By Chris Stiles • Monday, March 30 15:54 • Permanent Link

Willis Lease Finance Corp. has expanded its revolving credit facility to $1.75 billion from $1.0 billion, a $750 million increase, while also pushing the maturity out to April 2031 from the prior term. The company said the amended facility drew about $1.0 billion in excess lender commitments, indicating demand for roughly $2.75 billion in total commitments against the $1.75 billion target.

The new facility gives Willis Lease 75% more committed borrowing capacity than before and adds several years of funding runway, moving the maturity date from the previous schedule to 2031. The company said the larger, longer-dated facility is intended to support continued growth and diversification of its aviation leasing platform. As a result of these announcements, the company's shares have moved -2.84% on the market, and are now trading at a price of $171.24. For the full picture, make sure to review WILLIS LEASE FINANCE CORP's 8-K report.

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