KfW provides commercial loan for Intrepid A330

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German bank KfW IPEX-Bank has closed a commercial financing facility covering a new Airbus A330-300 delivery for US lessor Intrepid Aviation.

The aircraft, MSN 1552, was delivered on 30 August and will be put into service by Cebu Pacific Air under an operating lease.

The A330-300 is the first of two units Intrepid Aviation has agreed to lease to the Philippine low-cost carrier. The second aircraft is scheduled for delivery in April 2015, Flightglobal’s Ascend Fleets database show.

The transaction follows the financing of a new A330-200 for Intrepid in November 2013. KfW IPEX-Bank acted as senior lender, senior arranger, senior agent and security trustee for the delivery, and the aircraft was placed under an operating lease transaction with Air Namibia.

Cebu Pacific now operates five A330-300s under lease agreements with AWAS, CIT Aerospace and Intrepid Aviation. The carrier’s fleet also includes eight ATR 72s, 10 Airbus A319s and 28 A320s.