Mitsubishi UFJ Financial Group (MUFG), a global financial group, closed a $750 million senior secured revolving credit facility (RCF) supporting Willis Mitsui Engine Support (WMES), a joint venture between Willis Lease Finance and Mitsui. This marks WMES’s inaugural revolving credit facility and a landmark transaction for MUFG’s aviation finance franchise.
MUFG acted as the structuring agent, administrative agent, joint lead arranger and joint bookrunner. The facility will primarily support WMES’s ongoing acquisition, leasing and trading of engines.
“MUFG is pleased to have led and supported Willis Mitsui & Co. Engine Support Limited to put together their inaugural RCF. We look forward to seeing the growth of this JV over the coming years,” Aqmar Chowdhury, director, aviation origination for the Americas, said.
“We are extremely pleased with the successful completion of this new revolving credit facility, which strengthens our financial flexibility and demonstrates the continued confidence our lenders have in our joint venture,” Hagen S. Disch, treasurer of Willis Lease, said.
“We are thrilled to announce a new credit facility for WMES as we focus on expanding our strategic growth initiatives,” Akira Kaido, chairperson and director of WMES, said. “This announcement closely follows the close of our acquisition of Willis Mitsui & Co. Asset Management Limited in June, and this credit agreement will help us capitalize on new opportunities with agility and strength.”
