CAPITAL MARKETS
Capital Markets Lawyers in Panama
Alcogal advises many of the world’s largest and most sophisticated financial institutions on a full-range of securities and related regulatory matters in the Republic of Panama.
Our lawyers in Panama advise our clients in regards to their ongoing regulatory and disclosure obligations with all the relevant local and foreign authorities, and ensure they are up to date concerning all legislative developments.
Our Services
Widely recognized as the leading capital markets lawyers in Panama, Alcogal has long and close working relationships with many prominent international banking institutions,
Our clients trust our experience and ability to deliver solutions-focused advice and deal execution, especially when the factual and legal issues are challenging and/or the financing structures are complex. They entrust us with the most sophisticated and challenging finance transactions.
• 144A/ RegS transactions
• IPOs and follow-on equity offerings.
• OPA.
• Commercial paper program.
• Medium term note programs.
• Mutual funds.
• REITS.
• Private equity funds.
• Securitizations.
• High yield debt and investment grade debt.
• Convertible and exchangeable debt.
We represent underwriters and issuers in debt, equity and dealer managers and solicitation agents in exchange offers, tender offers and consent solicitations.
With a record of demonstrated excellence developed over decades of experience, Alcogal assists, as capital markets lawyers in Panama, our corporate clients in accessing capital markets and helps our investment banking clients compete in these markets by providing strategic counsel across industries and borders.
Representing both issuers and underwriters, the firm enjoys a premier standing in advising on offerings for common stock, high yield debt, convertible debt and investment grade debt.
Rafael Amar
Junior Associate
Junior Associate
Banking
Finance
Capital Markets
Corporate and M&A
Finance
Capital Markets
Corporate and M&A
Carlos Cordero
Partner
Partner
Banking
Finance
Capital Markets
Corporate and M&A
Energy and natural resources
Telecommunications
Finance
Capital Markets
Corporate and M&A
Energy and natural resources
Telecommunications
Patricia Cordero A.
Partner
Partner
Banking
Finance
Capital Markets
Corporate and M&A
Finance
Capital Markets
Corporate and M&A
Rita de la Guardia
Partner
Partner
Banking
Finance
Capital Markets
Corporate and M&A
Finance
Capital Markets
Corporate and M&A
Arturo Gerbaud
Partner
Partner
Banking
Finance
Capital Markets
Corporate and M&A
Finance
Capital Markets
Corporate and M&A
Rafael Marquínez
Partner
Partner
Banking
Finance
Capital Markets
Corporate and M&A
Real estate
Finance
Capital Markets
Corporate and M&A
Real estate
Mario Vlieg
Associate
Associate
Banking
Finance
Capital Markets
Corporate and M&A
Trusts and estate planning
Finance
Capital Markets
Corporate and M&A
Trusts and estate planning
Representative transactions
- BANKING, FINANCE AND CAPITAL MARKETS
Alcogal advised Multibank, Inc. with the registration of subordinated corporate bonds
- US$100M
- BANKING, FINANCE AND CAPITAL MARKETS
Alcogal advised Banco General, S.A., as arranger, in connection with the registration of the common shares of Supermercados Xtra, S.A.
- US$295M
- BANKING, FINANCE AND CAPITAL MARKETS
Alcogal advised Banco General, S.A., as arranger, in connection with the registration of the common shares of Supermercados Xtra, S.A.
- BANKING, FINANCE AND CAPITAL MARKETS
Alcogal advised Multibank, Inc. with the registration of subordinated corporate bonds
- US$100M
- BANKING, FINANCE AND CAPITAL MARKETS
Alcogal advised Banco General, S.A., as arranger, in connection with the registration of the common shares of Supermercados Xtra, S.A.
- US$295M
- BANKING, FINANCE AND CAPITAL MARKETS
Alcogal advised Banco General, S.A., as arranger, in connection with the registration of the common shares of Supermercados Xtra, S.A.
- We advised Grupo Aval in its corporate reorganization process.
- We advised on the public offering and bond issuance of Fountain Hydro Power Corp.
- We 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 shares.
- We advised Banco General, S.A. in the multi-million dollar offering and issuance of corporate bonds by Supermercados Xtra, S.A.
- We advised initial purchasers in a US$1.85 billion bond offering by Aeropuerto Internacional de Tocumen.
- We advised Elektra Noreste, S.A., (ENSA) in a US$100 million corporate bonds issuance.
- We advised Banco Promerica de Costa Rica, S.A., as issuer, in connection with the structuring and registration of a US$50 million green bonds or sustainable bonds issuance, the first of its kind in Central America.
- We advised BofA Securities, Inc. and Banco General, S.A. as initial purchasers in a US$400 million bond offering by the ENA Master Trust.
- We advised Banco General S.A. as arranger and administrative agent in a corporate bonds issuance for US$180 million
- We advised AES Panama Generation Holdings, S.R.L. in connection with a corporate bond issuance of up to US$1.4 billion and a syndicated loan of up to US$105 million.
- We advised Alternegy, S.A. with the issuance of its first bond offer of US$320 million.
- We represented Global Bank Corporation in a US$550 million bond offering registration and listing for their sale in the secondary market.
- We provided counsel to Merrill Lynch, Pierce, Fenner & Smith Incorporated, and JP Morgan Securities LLC in the 144A/Reg S issuance by Peruvian holding company, Intercorp Financial Services Inc., worth US$300 million.
- We represented Banistmo S.A. in its first international bond offer.
- We represented Grupo Mundial Tenedora, S.A. and Banvivienda in an exchange process of non-accumulative preferred shares.
- We participated as Panamanian counsel to the underwriters in a bond offering issued by Banco General.
- We advised Banco General S.A., as arranger and administrative agent, in connection with the structuring and registration of three parallel corporate bonds issuances, totaling approximately US$100 million, by Istmus Hydro Power, Corp. Las Perlas Norte, S.A. and Las Perlas Sur, S.A., as well as their public offering.
- We advised Banco General in an up to US$40 million corporate bond issuance by Desarrollo Inmobiliario del Este, S.A. (DIESA).
- We advised Banco General in a US$235 million corporate bonds issuance by Electron Investment, S.A.
- We advised Tocumen International Airport in US$225 million bond issue.
- We advised Tocumen International Airport in a US$650 million bond issue.
- We advised Tocumen International Airport in a US$575 million international secured bond offering in connection with the construction of the new South Terminal.
- We advised Alternegy in a bond issuance awarded by the Investors Forum as the best long – term debt fund of 2017.
- We advised Credito Real with the issuance of a US$400 million senior unsecured notes.
- We advised Global Bank Corporation with a bond issuance of US$300 million.
- We advised Promerica in its first US issuance.
- We advises on repayment of US$456 million loan to US investment management firm.
- We represented Banco General, S.A. in a US$250 million corporate bond issuance of Inmobiliaria Don Antonio, S.A.
- We represented Banistmo S.A. in its first international debt offer.
- We advised the dealer managers in a senior notes offering by Avianca Holdings, S.A. for US$550 million.
- We advised Crédito Real SAB de CV as issuer, on Panamanian law issues, in connection with the issuance of US$400 million corporate bonds due in 2026.
- We acted as Panamanian counsel to the Initial Purchasers in connection with the first 144A/Reg Bond Issuance of Empresa de Transmision Electrica, S.A. (ETESA) of US$500 million.
- We advised Banco General, S.A. and Banistmo, S.A. as co-arrangers in connection with the structuring and registration of a US$250 million corporate bonds issuance by Supermercados Xtra, S.A., in connection with the issuance and the registration with the Superintendence of Capital Markets, of corporate bonds being issued.
- We advised Global Bank Corporation as arranger and administrative agent in connection with the structuring and registration of a US$100 million corporate bonds issuance by Grupo Bern.
- We advised BAC International Bank in connection with a large scale securitisation with nine international investors.
- We advised AES Panama, S.R.L., as Issuer, in connection with the public offering of USD$300 million due in 2022 and in connection with a Tender Offer for the purchase (as repayment) of the corporate bonds issued by AES Panama S.R.L. due in 2016.
- We advised AES Changuinola as issuer of a USD$420 million public offering of bonds.
- We acted as Panama counsel to the Initial Purchasers (including Citigroup Global Markets Inc., BNP Paribas Securities Corp., among others in connection with the purchase and sale of US$420 million 10.00% Notes due in 2019 issued by Global Ship Lease, Inc.
- We advised Banistmo S.A., as arranger and administrative agent, in connection with the structuring and registration of an up to US$200 million corporate bonds issuance by Bayport Enterprises, S.A., as well as their public offering.
- We advised BAC International Bank Inc. in connection with the issuance of certain corporate bonds for US$100 million.
- We advised Jeffries Finance LLC in connection with an issuance of senior secured notes by Shell Drilling International Holdings Ltd. for US$500 million.
- We advised Desarrollo Inmobiliario del Este, S.A. in a public offering of bonds for up to US$80 million
- We advised Ideal Living Corp. in a public offering of bonds for up to US$60 million.
- We advised Elektra Noreste, S.A. in a placement of 144A/Reg S notes for US$100 million.
- We advised Panama Canal Railway Company, S.A. in a placement of 144A/Reg S notes for US$100 million.
- We advised Banco Continental de Panamá, S.A. in a placement of 144A/Reg S notes for US$225 million.
- We acted as Panamanian counsel to Citibank N.A. in connection with a senior secured credit agreement and local guarantees to Aeroholding S.A. de C.V. for US$114 million.
- We advised Grupo Financiero Ficohsa in connection with issuance of commercial paper for US$150 million.
- We advised BAC International Bank, Inc. and Multi Securities Inc. in a corporate bonds issuance for US$700 million.
- We advised the dealer managers in a senior notes offering by Avianca Holdings, S.A. for US$550 million.
- We advised Banco Nacional de Panamá in a US$1 billion bond issuance.
- We advised Banco Prival S.A. as arranger and administrative agent in connection with the structuring and registry of a USD$212 million public offering of bonds by a trust established by ENA Este S.A.
- We represented Multibank, Inc. in its first international debt offer.
