Sun, Apr 17, 2011
J.P. Morgan Will Provide Ex-Im Guaranteed Financing For 5
Aircraft Delivering In 2011
J.P. Morgan has been mandated by Copa Airlines to provide
Export-Import Bank of the United States (Ex-Im Bank) guaranteed
funding for five 737-800 aircraft scheduled to deliver in 2011,
Copa Holdings said Thursday.
The Facility, totaling $178.5 million, includes 12-year
financing terms at very competitive rates and will finance all
direct Boeing purchases scheduled for delivery to Copa Airlines in
2011. J.P. Morgan will act as the sole arranger and facility agent
for the Term Loan Facility, which is available on delivery of the
Aircraft on either a floating or fixed rate basis. COPA will also
have the option to effect a conversion, subject to Ex-Im Bank's
approval, of the floating rate term facility into a fixed rate term
facility.
"We are very pleased with J.P. Morgan's support in securing our
2011 aircraft financing needs under very competitive terms. These
five 737-800s will play an important role in our future growth
plans", commented Victor Vial, CFO of Copa Holdings.
"As the market leader in providing Ex-Im Bank financing to the
airline sector, we are proud to support Copa with their expansion
initiatives," said Dani Cotti, global trade executive, J.P. Morgan
Treasury Services.
Copa Holdings is a leading Latin American provider of passenger
and cargo services. The Company, through its operating
subsidiaries, provides service to 52 destinations in 25 countries
in North, Central and South America and the Caribbean flying 66
aircraft: 40 Boeing 737NG aircraft and 26 EMBRAER-190s.
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