THY funds three 737 Max 8s using AFIC-backed loans combined with French structured leases

victoria@aviationnews-online.com
By victoria@aviationnews-online.com December 5, 2018 22:49

THY funds three 737 Max 8s using AFIC-backed loans combined with French structured leases

Turkish Airlines (THY) has funded three 737 Max 8 aircraft using three separate 10-year Aircraft Finance Insurance Consortium (AFIC)-supported loans, which were combined with a French Structured Lease. The loans were structured with AFIC Non-Payment Insurance (ANPI) cover under the Marsh-designed AFIC program. The first aircraft was delivered in September and the remaining two in November.

Crédit Agricole CIB’s (CACIB) finance team, based in Paris, and ING Capital’s (ING) structured export finance team, based in New York, were joint lead debt arrangers and lenders. CACIB acted as lease arranger and agent.

Clyde & Co represented Turkish Airlines, Allen & Overy represented the AFIC Insurers, and Norton Rose Fulbright represented the finance parties.

victoria@aviationnews-online.com
By victoria@aviationnews-online.com December 5, 2018 22:49