By Josh Beckerman
Willis Lease Finance shares declined after the company reported a $200 million convertible note sale and a borrowed-stock offering to facilitate hedging transactions.
The stock was recently down 10.5% to $189.39 Thursday and is up about 40% year to date.
Willis Lease Finance, which leases engines and aircraft to airlines, is selling 2.5% convertible senior notes due 2031. It plans to use proceeds to temporarily repay amounts outstanding under its revolving credit facility until deployed for general corporate purposes.
The initial conversion rate is 3.7202 shares per $1,000 principal amount of notes, which represents an initial conversion price of about $268.80 a share.
Meanwhile, Morgan Stanley, acting on behalf of itself and/or its affiliates, is offering and selling short 281,250 shares to be borrowed from non-affiliate third parties to facilitate hedging transactions by certain investors subscribing for the notes.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
05-14-26 1507ET
