Willis Lease Boosts Capital with $50M in New JOLCO Deals, Total Financing Nears $150M
WLFC sits 49% above its 52-week low of $114.01.
Summary
Willis Lease Finance Corporation (WLFC) announced the closing of two additional Japanese Operating Lease with Call Option (JOLCO) transactions, securing approximately $50 million in new financing. This brings the company's total JOLCO financing to nearly $150 million, specifically supporting LEAP-1A and LEAP-1B engines. This financing event follows the company's recent announcement on March 30th of a significant increase in its revolving credit facility to $1.75 billion, and also comes amidst recent news of an investigation into the company's board and insider share sales. The JOLCO deals provide WLFC with another term financing solution, further diversifying its capital sources and enhancing its ability to offer competitive leasing alternatives to airline customers. This strengthens the company's financial flexibility and operational capacity, which is a positive development for investors.
At the time of this announcement, WLFC was trading at $170.26 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $1.2B. The 52-week trading range was $114.01 to $207.05. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.