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Intrepid to repay $120m notes after closing A330s financing

Intrepid Aviation is set to repay its $120 million 8.25% senior unsecured notes after securing a portfolio financing on three Airbus A330-300s leased to Turkish Airlines.

The lessor says that the financing facility was provided by Deutsche Bank and an institutional investor, but provided no other details.

"The proceeds of the financing will be used to repay the entire $120 million in outstanding principal amount of the company’s 8.25% senior unsecured notes, which mature on July 15, 2017," it adds in a statement.

Flight Fleets Analyzer shows that the lessor has a portfolio of 30 aircraft in service, and two Boeing 777-300ERs on order which are committed to lease to Philippine Airlines.

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