Aviation

December 5, 2018
 

Turkish Airlines closes three AFIC deals

Crédit Agricole CIB (CA-CIB) and ING Capital have closed three separate 10-year Aircraft Finance Insurance Consortium (AFIC)-supported loans, which were combined with French structured leases, to finance three B-737max8 aircraft for Turkish Airlines (THY).

The loans were structured with AFIC non-payment insurance (ANPI) cover under the Marsh-designed AFIC Aircraft Finance Insurance Consortium (AFIC) programme.

The first aircraft was delivered in September and the remaining two in November.

CA-CIB (Paris) and ING (New York) were joint lead debt arrangers and lenders.

CA-CIB acted as lease arranger and agent.

Law firm Clyde & Co acted for THY, Allen & Overy represented the AFIC insurers, and Norton Rose Fulbright represented the finance parties.