Copa in $350 Million Offering

April 30, 2020

Cleary Gottlieb represented Copa Holdings S.A. (Copa) in an offering of $350 million aggregate principal amount of 4.5% convertible senior notes due 2025 in a private offering to qualified institutional buyers pursuant to Rule 144A.

The initial purchasers of the notes have an option to purchase up to an additional $52 million principal amount of the notes.

The offer priced on April 27, 2020, and closed on April 30, 2020.

Copa is a leading Latin American provider of passenger and cargo services. In 2019, Copa, through its operating subsidiaries, provided service to 80 destinations in 33 countries in North, Central, and South America and the Caribbean with a modern fleet of 102 aircraft: six Boeing 737 MAX9s, 82 Boeing 737NGs aircraft, and 14 Embraer-190s.