The 5.25% notes are due 2028

Davis Polk advised the representative of the initial purchasers in connection with a Rule 144A offering by TPI Composites, Inc. of $132.5 million aggregate principal amount of its 5.25% convertible senior notes due 2028, which included $17.5 million principal amount of notes pursuant to the exercise in full of the initial purchasers’ option to purchase additional notes. In addition, Davis Polk advised the counterparties to the capped call transactions entered into in connection with the offering.

TPI Composites, Inc. is a global company focused on innovative and sustainable solutions to decarbonize and electrify the world. TPI delivers high-quality, cost-effective composite solutions through long-term relationships with leading OEMs in the wind and automotive markets. TPI is headquartered in Scottsdale, Arizona, and operates factories in the United States, Mexico, Türkiye and India. TPI operates additional engineering development centers in Denmark and Germany and global service training centers in the United States and Spain. TPI Composites, Inc. is listed on the Nasdaq Global Market under the symbol “TPIC.”

The Davis Polk capital markets team included partner Byron B. Rooney and associate Tianwei Liu. The equity derivatives team included partner Mark J. DiFiore, counsel Hanbing Zhang and associates Danielle Forni and Eugenia S. Lee. The tax team included counsel Alon Gurfinkel and associate Yueyu Yang. All members of the Davis Polk team are based in the New York and London offices.

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