Loan & DebtMay 14, 2026, 06:32 AM
Willis Lease Finance Prices $200M Convertible Senior Notes Offering
AI Summary
Willis Lease Finance Corporation announced the pricing of its public offering of $200.0 million aggregate principal amount of 2.50% convertible senior notes due 2031. The offering size was increased from the previously announced $175.0 million, resulting in net proceeds of approximately $193.1 million. The company intends to use these proceeds to temporarily repay its revolving credit facility for general corporate purposes. Concurrently, a delta underwriter is offering 281,250 shares of the company's common stock at $192.00 per share to facilitate hedging transactions by certain investors.
Key Highlights
- Willis Lease Finance priced $200.0 million aggregate principal amount of 2.50% convertible senior notes due 2031.
- The offering size was increased from the previously announced $175.0 million.
- Net proceeds from the Notes Offering are approximately $193.1 million.
- Underwriters have a 30-day option to purchase up to an additional $30.0 million principal amount of Notes.
- Initial conversion price is approximately $268.80 per share, representing a 40.0% premium.
- A Concurrent Delta Offering of 281,250 shares of common stock is priced at $192.00 per share.
- The Notes will mature on May 15, 2031, with interest payable semi-annually.
- Proceeds will temporarily repay amounts outstanding under the revolving credit facility.
Price Impact
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