Rafael Marquínez
Partner
Contact Details
@
Panama, Panama
Contact Details
@
Panama, Panama
He has extensive experience with the regulatory framework applicable to issuers, broker-dealers, banks, and fiduciary entities, and regularly advises on securities registration processes, regulatory compliance, and authorizations before the Superintendence of the Securities Market and the Superintendence of Banks of Panama. His practice includes the design of complex structures for public offerings and private placements, as well as advising on credit operations and project financing. He has also contributed specialized articles on financial and regulatory matters, strengthening his position as a leading figure in the Panamanian legal sector.
He has been recognized by publications such as Chambers and Partners, The Legal 500, Latin Lawyer, and IFLR1000 for his expertise in banking, finance, capital markets, real estate, and M&A. These distinctions, together with his contributions to financial and regulatory topics, establish him as a leading professional in the Panamanian legal field.
Accolades


Representative Transactions
Alemán, Cordero, Galindo & Lee (Alcogal) advised Lion Hill Capital, S.A. (the “Issuer”) on the registration with the Superintendency of the Securities Market of Panama (the “SMV”) of a Revolving...
Alcogal advises Grupo Cibest on the closing of the sale of Banistmo to Grupo Financiero BSC.We advised Grupo Cibest S.A., the Colombian financial holding company, parent company of Bancolombia and selling shareholder of Banistmo S.A., one of Panama’s leading banks with more than 600,000 clients,...
New issuance boosts momentum in the real estate sector within the capital marketsWe advised Panama Commercial Properties, S.A. on its debut in the local capital markets, through a corporate bond issuance of up to USD 75 million, authorized by the Superintendency of...
We acted as Panamanian legal counsel to Elektra Noreste, S.A. (ENSA) on the registration, before the Superintendency of the Securities Market of Panama, of its Revolving Corporate Securities Program for...
Corporate bonds of Desarrollos Comerciales, S.A.We are pleased to announce that we advised on the structuring, registration, and listing of the Corporate Bond Issuance of Desarrollos Comerciales, S.A., for an amount of up to USD...
Milestone in the Panamanian banking sectorBAC International Corporation successfully completed the acquisition of 99.57% of Multi Financial Group, Inc. — the holding company of Multibank — one of the most significant transactions in Panama's financial...
Alcogal actuó como asesor local panameño de Alicorp en la adquisición del negocio de Untables de Flora Food Group, como parte de una transacción multijurisdiccional en América Latina y el...
Alcogal advises Grupo Cibest on the sale of BanistmoAlcogal acted as legal advisor to Grupo Cibest S.A. in connection with the execution of a promise to purchase and sell agreement for the sale of 100% of the shares...
Impulsando nuevas oportunidades en el sector inmobiliario a través del mercado de capitales panameñoAlcogal brindó asesoría legal a Aurora SM Ventures, Corp. en la exitosa colocación de su emisión de bonos corporativos por US$55 millones, registrada ante la Superintendencia del Mercado de Valores...
Alcogal advised BofA Securities and J.P. Morgan in Mobiliare LatAm's inaugural USD 500 million senior bond issuance due 2032, issued under Rule 144A/Reg S — the largest issuance by a...
Driving new opportunities in the real estate sector through the Panamanian capital marketsCongratulations to Aurora SM Ventures, Corp. on the successful placement of its US$55 million corporate bond issuance, registered with the Superintendency of the Securities Market of Panama and listed on...
Alcogal acted as legal advisor in the corporate securities issuance of Banco Ficohsa (Panama), S.A., and participated in the bell-ringing ceremony at Latinex.Alcogal advised Banco Ficohsa (Panama), S.A. on the registration of its Corporate Securities Revolving Program for up to US$30,000,000.00, structured by Global Bank Corporation. The transaction involved our partner Rafael...
We acted as Panamanian legal advisors in Bladex’s first international AT1 bond issuance, which reached an amount of USD 200 million and received strong interest from international investors. The transaction...
Alcogal participates in historic financial transaction consolidating BAC as a regional benchmarkAlcogal provided comprehensive advisory to BAC International Bank, Inc. in the closing of a USD 500 million international syndicated loan — the most significant of its kind in the history...
Alcogal takes part in historic financial transaction that consolidates BAC as a regional benchmarkAlcogal provided comprehensive legal advice to BAC International Bank, Inc. on the closing of an international syndicated financing of USD 500 million, the largest of its kind in the history...
Banistmo, S.A. acted as structurer and underwriter in the registration of a Corporate Bond Revolving Program for Supermercados Xtra, S.A. with the Superintendency of the Securities Market of Panama, for...
Alcogal advised Microserfin and Banco GeneralUnder the leadership of partner Rafael Marquínez, Microserfin, as the issuer, and Banco General, as the structurer and underwriter, have registered and placed the first series of social bonds in...
Alcogal advises Global Bank"Alcogal acted as local counsel to Global Bank in connection with a loan for an amount of up to USD50 million dollars granted by Japan International Cooperation Agency’s (JICA). This...
"Alemán, Cordero, Galindo & Lee (Alcogal) advised Multibank, Inc. with the registration of subordinated corporate bonds for USD100 M. Alemán, Cordero, Galindo & Lee (Alcogal) represented Multibank, Inc. (the “Issuer”) (i) with...
Alcogal advised Banco General, S.A., as arranger, in connection with the registration of the common shares of Supermercados Xtra, S.A.Alemán, Cordero, Galindo & Lee (Alcogal) advised Banco General, S.A., as arranger, in connection with (i) the registration of the common shares of Supermercados Xtra, S.A. with the Superintendence of...
Alcogal advised Banco General, S.A., as arranger, in connection with the registration of the common shares of Supermercados Xtra, S.A.Alcogal advised Banco General, S.A., as arranger, in connection with (i) the registration of the common shares of Supermercados Xtra, S.A. with the Superintendence of Capital Markets (SCM) and their...
Alcogal advised Grupo Aval in its corporate reorganization process. This reorganization resulted in the spinoff of a 75% equity stake in its indirect subsidiary BAC Holding International Corp. (BHI), in...
Alcogal advised on the public offering and bond issuance of Fountain Hydro Power Corp.Alcogal advised Fountain Hydro Power Corp., as Issuer, in connection with a USD110 million corporate bonds issuance registered by the Superintendency of Capital Markets and listed in Latinex, issued for...
Alcogal advises G.B. Group Corporation in the exchange process of Series A and Series B cumulative preferred shares and issuance and placement of Serie C preferred sharesAlcogal acted as legal counsel to G.B. Group Corporation (holding company of Global Bank Corporation) in (i) the exchange process of Series A and Series B cumulative preferred shares without...
Personal Achievements
Practice Areas
Experience
Education
Languages
- Spanish
- English
- French
Bar Admission
- 2008, Panama