Alcogal advised Multibank, Inc. with the registration of subordinated corporate bonds

“Alemán, Cordero, Galindo & Lee (Alcogal) advised Multibank, Inc. with the registration of subordinated corporate bonds for US$100 M. Alemán, Cordero, Galindo & Lee (Alcogal) represented Multibank, Inc. (the “Issuer”) (i) with the registration of subordinated corporate bonds for US$100M, through the abbreviated registration process for recurring issuers before the Superintendency of Capital Markets, for these to be publicly offered in multiple series; and (ii) with the authorization process before the Superintendency of Banks in Panama, for the referred subordinated corporate bonds count as secondary regulatory capital.

The first bond series for US$12M was successfully placed through the Latin American Stock Exchange (Bolsa Latinoamericana de Valores, S.A.) (“Latinex”). The proceeds received will be used to strengthen the Issuer’s secondary capital, as well as its total capital index.

The Issuer is a bank with a general banking license issued by the Superintendency of Banks, with more than 30 years of experience in an important position in the Panamanian financial market.
Partners Arturo Gerbaud and Rafael Marquinez, as well as junior associate Rafael Amar Lopp and legal assistant Lilah Levin, participated in this transaction.”