Willis Lease Finance said Sept. 16 it signed a $35 million preferred stock purchase agreement with the Development Bank of Japan, adding 1,750,000 shares of 8.09% Series B preferred stock to its capital structure.
The new investment follows a 2024 Series A deal with DBJ that refinanced and expanded Willis Lease’s $50 million of aggregate Series A-1 and Series A-2 preferred stock into a single $65 million preferred stock series. That means the preferred investment tied to DBJ has now increased by $15 million, or 30%, from the prior $50 million structure.
The company said the latest capital will support growth across its aviation services business, including plans for a new Willis Engine Repair Center in Johor, Malaysia.
Willis Lease said its business spans leasing large and regional spare commercial aircraft engines and aircraft, engine and aircraft trading, engine lease pools, asset management services, end-of-life engine and aviation materials solutions, and maintenance and repair operations. As a result of these announcements, the company's shares have moved 0.94% on the market, and are now trading at a price of $55.255. For the full picture, make sure to review WILLIS LEASE FINANCE CORP's 8-K report.
