Willis Lease Finance, an owner of commercial jet engines, has obtained a new revolving $240 million credit facility, Willis Lease reports. The three-year loan will be used to finance its lease portfolio, which stood at $921 million as of Sept. 30, 2009.

A syndicate of lenders, led by Union Bank as administrative agent and lead arranger, and Wells Fargo as co-lead arranger, has provided the financing. The $240 million revolving credit facility can be expanded to $300 million, through increased commitments from current lenders or the addition of new lenders.

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