Willis Lease Finance slips on $200 mln convertible debt deal

Willis Lease Finance

14/05/2026 12:41

** Aircraft engine lessor Willis Lease Finance WLFC.O shares down 1.7% in premarket trading to $208 after securing capital raise

** Florida-based WLFC early Thurs announces pricing offering of $200 mln 2.5% 5-yr convertible bonds (CBs)

** Offering size boosted from $175 mln

** Co also announces borrowed stock offering of 281,250 shares at $192 underwritten by Morgan Stanley to facilitate delta hedging transactions by some investors in the CBs

** Initial conversion price on the CBs of $268.80 represents 40% premium to public offering price of stock offering

** It intends to use CBs net offering proceeds to temporarily repay amounts outstanding under its revolver until deployed for general corporate purposes

** Morgan Stanley, BofA and Deutsche Bank joint bookrunners for CBs offering

** WLFC shares have fallen past five sessions, but up 56% YTD through Weds

** With 7 mln shares outstanding, co has roughly $1.5 bln market cap

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))