Willis Lease Finance Corporation announced on June 18, 2025, that its wholly-owned subsidiary, Willis Engine Structured Trust VIII (WEST), successfully completed its offering of $596.0 million in fixed rate notes. The offering included $524.0 million in Series A Fixed Rate Notes and $72.0 million in Series B Fixed Rate Notes.
The notes are secured by WEST’s direct and indirect interests in a portfolio of 62 aircraft engines and two airframes. The offering was well-received, with the Series A Notes oversubscribed by 3.60x (gross) and 5.10x (avail), and the Series B Notes by 7.15x (gross) and 13.00x (avail).
The Series A Notes carry a fixed coupon of 5.582%, and the Series B Notes a fixed coupon of 6.070%, both with an expected maturity of approximately six years. This successful capital raise provides significant liquidity for WLFC, enabling it to repay debt and support general corporate purposes.
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