| Ticker: WLFC | 180 Harbor Drive, Suite 200 | |
| Exchange: NASDAQ-National Market | Sausalito, California 94965 | |
| Industry: Financial | (415) 331-5281 |
| Type of Shares: | Common Shares | Filing Date: | 7/5/96 | |
| U.S. Shares: | 2,000,000 | Offer Date: | 9/18/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $8.00 - $10.00 | |
| Primary Shares: | 2,000,000 | Offer Price: | $8.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.60 | |
| Offering Amount: | $18,000,000 | Selling: | $0.31 | |
| Expenses: | $850,000 | Reallowance: | $0.10 | |
| Shares Out After: | 5,125,000 |
| Manager | Tier | Phone |
| Wedbush Morgan Securities | Lead Manager | (213) 688-8050 |
| Dain Bosworth Incorporated | Co-manager | (612) 371-2711 |
| Auditor: KPMG Peat Marwick | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 6/30/96 | 6/30/95 | 6/30/96 | ||
| Revenue: | $22.74 | $16.14 | $7.42 | Assets: | $91.36 |
| Net Income: | $3.22 | $1.57 | $1.30 | Liabilities: | $85.24 |
| EPS: | $1.03 | $0.50 | $0.42 | Equity: | $6.12 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| Willis Lease Finance Corporation is a leading provider of operating leases of spare commercial aircraft engines worldwide. The company is primarily engaged in acquiring commercial aircraft spare engines in the aftermarket and providing operating leases of such engines to foreign and domestic airlines, manufactures and overhaul/repair facilities. As of July 31, 1996, the company had 27 engines under lease to 19 customers in 12 countries, two engines that were subject to a letter of intent for sale and one engine that was being repaired and prepared for re-lease or sale. Under operating leases, the company retains the potential benefit and assumes the risk of the residual value of the engine, as distinct from finance leases where the full cost of the engine is recovered over the term of the lease. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to provide the equity investment to acquire aircraft engines for lease, to acquire engine and airframe component inventory, for partial repayment of a term loan, to purchase an interest rate cap and for working capital and other general corporate purposes. |
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