Intrepid closes first AFIC backed financing

Privately held commercial aircraft lessor Intrepid has closed its first Aircraft Finance Insurance Consortium (AFIC) backed financing for one 747-8 Freighter (747-8F), on lease to AirBridge Cargo Airlines. The financing was arranged and underwritten by ING Capital and Apple Bank. The transaction represents the first non-payment insurance backed financing ever closed by an operating lessor and further diversifies the Company’s banking group with the addition of ING Capital.