Willis Lease Finance’s, a lessor of commercial aircraft engines and a global provider of aviation services, join venture with Mitsui & Co., Willis Mitsui & Co. Engine Support (WMES), entered into a new $750 million, five-year revolving credit facility.
Proceeds from the revolving credit facility may be used for general corporate purposes. The credit facility will be available on a revolving basis until Oct. 31, 2030, and WMES may request to extend the maturity, subject to lender approval. Loans under the credit agreement will bear interest based on a floating rate (Term SOFR) plus a margin.
“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.”
