Copa Holdings, parent company of Copa Airlines and AeroRepublica, has announced it
has mandated DVB Bank, Natexis Transport Finance and NORD/LB to provide
financing for the acquisition of 10 new Embraer 190, due for delivery in
2006 and 2007.The loan, totaling US$240 million, comprises a senior and a
junior tranche. The junior tranche is to be financed by Natexis Transport
Finance and NORD/LB and the senior tranche will be financed by the three
mandated lead arrangers. The loan will finance aircraft scheduled to be
delivered both to Copa Airlines and AeroRepublica.
“We’re very pleased to have achieved very competitive financing terms
which will allow us to continue expanding our Embraer 190 fleet at Copa
Airlines and begin the renewal of AeroRepublica’s MD-80 fleet with modern
and fuel-efficient aircraft,” commented Victor Vial, CFO of Copa Holdings.
Copa Holdings S.A., through its Copa Airlines and AeroRepublica
operating subsidiaries, is a leading Latin American provider of passenger
and cargo service. Copa Airlines currently offers approximately 110 daily
scheduled flights to 35 destinations in 21 countries in North, Central and
South America and the Caribbean. In addition, Copa Airlines provides
passengers with access to flights to more than 120 other international
destinations through codeshare agreements with Continental Airlines and
other airlines. AeroRepublica, the second-largest domestic carrier in
Colombia, provides service to 12 cities in Colombia as well as
international connectivity with Copa Airlines’ Hub of the Americas through
daily flights from Bogota and Medellin.