MSN: 1367

Intrepid Aviation entered into a secured credit agreement with Credit Agricole Corporate and Investment Bank, as facility agent, lead arranger, security trustee and lender, for a $70.0 million loan to provide acquisition financing for the purchase of one Airbus A330-300 aircraft on lease to China Airlines.

Tranche A of the senior loan is in the principal amount of $50.0 million with principal and interest payable quarterly at an annual floating rate of 3-month LIBOR plus 1.90% for a period of 121 months. Tranche B of the senior loan is a balloon payment to be paid at the end of the term in the principal amount of $20.0 million with interest payable quarterly at an annual floating rate of 3-month LIBOR plus 2.60% for a period of 121 months. The senior loan floating interest rates are synthetically fixed using interest rate swaps.