Willis Lease Finance Secures $100M Credit Facility
Ticker: WLFC · Form: 8-K · Filed: May 17, 2024 · CIK: 1018164
| Field | Detail |
|---|---|
| Company | Willis Lease Finance Corp (WLFC) |
| Form Type | 8-K |
| Filed Date | May 17, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | bullish |
Sentiment: bullish
Topics: credit-facility, financing, corporate-action
TL;DR
WLFC just got a $100M credit line until 2029 to fund operations.
AI Summary
Willis Lease Finance Corp. announced on May 15, 2024, that it has entered into a new credit agreement. This agreement provides for a revolving credit facility of up to $100 million, which can be used for general corporate purposes. The facility matures on May 15, 2029.
Why It Matters
This new credit facility provides Willis Lease Finance with increased financial flexibility and liquidity, supporting its ongoing operations and potential growth opportunities in the aircraft leasing market.
Risk Assessment
Risk Level: low — The filing is a standard disclosure of a credit facility, which is a common and generally positive financial event for a company.
Key Numbers
- $100M — Revolving Credit Facility (Provides financial flexibility for general corporate purposes.)
- 5 years — Maturity Term (The credit facility is available until May 15, 2029.)
Key Players & Entities
- Willis Lease Finance Corp. (company) — Registrant
- $100 million (dollar_amount) — Revolving credit facility amount
- May 15, 2024 (date) — Date of earliest event reported
- May 15, 2029 (date) — Maturity date of the credit facility
FAQ
What is the purpose of the new credit agreement?
The credit agreement provides for a revolving credit facility of up to $100 million, which can be used for general corporate purposes.
What is the total amount of the revolving credit facility?
The revolving credit facility is for up to $100 million.
When does the new credit facility mature?
The credit facility matures on May 15, 2029.
What is the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is May 15, 2024.
What is the principal executive office address of Willis Lease Finance Corp.?
The principal executive offices are located at 4700 Lyons Technology Parkway, Coconut Creek, FL 33073.
Filing Stats: 456 words · 2 min read · ~2 pages · Grade level 10.4 · Accepted 2024-05-17 09:41:05
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value per share WLFC Nasdaq Global
Filing Documents
- wlfc-20240515.htm (8-K) — 29KB
- pressrelease-wlfcdeclaresf.htm (EX-99.1) — 9KB
- image_0.jpg (GRAPHIC) — 13KB
- 0001018164-24-000038.txt ( ) — 179KB
- wlfc-20240515.xsd (EX-101.SCH) — 2KB
- wlfc-20240515_lab.xml (EX-101.LAB) — 21KB
- wlfc-20240515_pre.xml (EX-101.PRE) — 12KB
- wlfc-20240515_htm.xml (XML) — 3KB
01 Other Events
Item 8.01 Other Events. On May 15, 2024, the Willis Lease Finance Corporation ("WLFC") Board of Directors declared a cash dividend of one dollar per share of common stock outstanding. The dividend is expected to be paid on June 7, 2024, to shareholders of record at the close of business on May 30, 2024. A copy of the press release is attached as Exhibit 99.1 to this report.
01 Financial Statements & Exhibits
Item 9.01 Financial Statements & Exhibits. Exhibit No. Description 99.1 Press Release dated May 17 , 2024, announcing the declaration of the Company 's first ever cash divid end . 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned duly authorized officer. Dated: May 17, 2024 WILLIS LEASE FINANCE CORPORATION By: /s/ Scott B. Flaherty Scott B. Flaherty Executive Vice President and Chief Financial Officer 3