FINANCE

Panama Finance Lawyers

Alcogal advises many of the world’s largest and most sophisticated financial institutions on a full-range of banking, securities and related regulatory matters in the Republic of Panama.

Alcogal is an acknowledged industry leader in the banking and finance sectors and has been involved in Panama’s largest and most complex financial transactions.

We represent many of the local and global leading financial institutions in both cross-border and domestic bank financing, as well as in other forms of acquisition and project financing.

Our lawyers in Panama advise our clients in regards to their ongoing regulatory and disclosure obligations with all the relevant local authorities, and ensure they are up to date concerning all legislative developments.

In addition, we regularly represent financial institutions and/or intermediaries in the process of obtaining government-issued licenses to operate in Panama, in accordance with banking and securities laws.

Our finance practice

Our practice is uniquely structured, centered on a lending core and bolstered by niche specialty areas, including corporate trust, commercial mortgage servicing, and structured finance.

Our finance lawyers represent the most active issuers, originators, servicers, trustees, fund managers, and investors. We have extensive experience in structuring and closing transactions with complex structures in a wide variety of asset classes

As financial transactions become increasingly complex, the lawyers who handle those deals need to be increasingly sophisticated and business-minded.

They need to master not only the evolving world of finance but also the changing environment of the industries in which the transactions occur.

Alcogal’s commercial lending attorneys have extensive experience in structuring, negotiating, and documenting all types of complex financing transactions. Our finance lawyers combine sophisticated commercial finance and lending experience with a strong familiarity with contract, tax, real estate, and securities law.

What We Do

Our team regularly represents many of the nation’s leading players in lending, leasing, and specialty finance in a broad range of services, including:

  • Business finance
  • Equipment leasing
  • General commercial/corporate finance
  • Factoring
  • Real estate lending
  • Project finance
  • Structured finance
  • Loan restructurings
  • Securitizations
  • Fund formation, management, and operation
Panama Finance Lawyers

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Rafael Amar
Rafael Amar
Junior Associate
Banking
Finance
Capital Markets
Corporate and M&A
Carlos Cordero
Partner
Banking
Finance
Capital Markets
Corporate and M&A
Energy and natural resources
Telecommunications
Patricia Cordero A.
Partner
Banking
Finance
Capital Markets
Corporate and M&A
Rita de la Guardia
Partner
Banking
Finance
Capital Markets
Corporate and M&A
Anibal Galindo N.
Partner
Corporate and M&A
Real estate
Banking
Finance
Shipping
Arturo Gerbaud
Partner
Banking
Finance
Capital Markets
Corporate and M&A
Eduardo Gomez A.
Partner
Litigation
Arbitration
Banking
Finance
Lilah Levin
Junior Associate
Banking
Finance
Capital Markets
Corporate and M&A
Real Estate
Rafael Marquínez
Partner
Banking
Finance
Capital Markets
Corporate and M&A
Real estate
Karla Rivera
Associate
Banking
Finance
Mario Vlieg
Associate
Banking
Finance
Capital Markets
Corporate and M&A
Trusts and estate planning

Representative transactions

  • We acted as Panamanian counsel to BNP Paribas as Lender to Canacol Energy Limited (Borrower) in a USD200 million Term Loan Credit Agreement which closed in April 2015.
  • We acted as the Panamanian counsel to UBS AG in connection with the preparation, execution and delivery of, and the consummation of the transaction contemplated by, the Amendment to the USD46 million loan granted in favor of OMEGA ENERGY INTERNATIONAL, S.A.
  • We acted as the Panamanian counsel to Phoenix Tower International Panama S. de R.L., and Torres Panameñas S. de R.L., as borrowers, in connection with the preparation, execution and delivery of, and the consummation of the transaction contemplated in the Term Loan Agreement of up to USD32.150 million granted by Banco General, S.A., Metrobank, S.A. and Towerbank International Inc.
  • We assisted Banco General, S. A. in the structuring, documentation and execution of the Syndicated Loan to Costa Del Este Town Center Group, S.A. for USD165 million, that will be used for the development and construction of the 78,487 square meter Town Center mall, which will be located in Costa Del Este.
  • We acted as local counsel to Citibank N.A., as Administrative Agent and Lenders, in a USD104 million credit agreement with Global Bank Corporation, as Borrower, Citigroup Global Markets Inc., as Joint Lead Arranger and Bookrunner, and Banco Latinoamericano de Comercio Exterior S.A. and Commerzbank Aktiengesellschaft, Filial Luxemburg, as Joint Lead Arrangers.
  • We served as local counsel for Grupo Unidos por el Canal, S.A. (as borrower) in the preparation, execution, delivery and consummation of the transactions contemplated by: the USD173.3 million celebrated among the Borrower, the Original Lenders party thereto, and Banco Santander S.A., as facility agent, the USD160 million facility agreement dated as of August 4, 2014 entered into by and among the Borrower; the Original Lenders party thereto, and Intesa Sanpaolo S.P.A, as facility agent and the USD66.7 million facility agreement dated as of August 4, 2014 entered into by and among the Borrower; the Original Lenders party thereto, and KBC Bank NV, as facility agent.
  • We advised Credit Suisse as Panama counsel in a loan agreement to AGP America S.A. and other borrowers.
  • We represented Celsia and CTC Curazao in important credit agreement.
  • We advised Credit Suisse AG, Cayman Islands Branch, as Administrative Agent and Lenders, in a USD220 million Second Amended and Restated Credit and Guaranty Agreement with Canacol Energy Ltd. and Canacol Energy Colombia S.A, as Borrowers.
  • We advised The Bank of Nova Scotia, as Administrative Agent, and Banistmo S.A., as additional lender in the USD95 million syndication of a loan to Retail Centenario, S.A. for the construction of the Alta Plaza shopping mall in Panama City.
  • We advised BAC International on a USD100 million corporate bond issuance and a USD100 million commercial paper issuance.
  • We advised Banco General as arranger of a USD90 million public offerings of bonds of Isthmus Hydropower, Las Perlas Norte, and Las Perlas Sur.
  • We advised Banco General in a USD70 million credit facility between Banco General, S.A. and London and Regional (Panama).
  • We acted as Panamanian counsel to the Initial Purchasers (including Citigroup Global Markets Inc., BNP Paribas Securities Corp., among others) in connection with the purchase and sale of USD420 million 10.00% Notes due in 2019 issued by Global Ship Lease, Inc., a corporation organized under the laws of the Marshall Islands.
  • We advised AES Changuinola as issuer of a USD420 million public offering of bonds.
  • We represented The Bank of Nova Scotia on a USD200 million credit assignment to Consorcio Linea 1 Metro de Panama, which is the Joint Venture undertaking the construction of Panama City’s first underground metro line.
  • We advised CFR INTERNATIONAL SpA, with respect to a Panamanian subsidiary in the process of securing and funding to acquire controlling stake in Adcock Ingram, one of South Africa’s leading pharmaceutical companies.
  • We advised creditor banks in Felix B. Maduro Trust.
  • We advised creditor banks in Soho Mall Trust.
  • We advised local banks on important syndicated loan.
  • We advised the initial purchasers with a USD500 million bond issuance by Empresa de Transmisión Eléctrica, S.A. (ETESA)
  • We advised Credit Suisse and other lenders in connection with a credit facility of up to USD100 million for AGP America S.A.
  • We advised Gas Natural Atlántico and Costa Norte LNG Terminal in connection with a bridge loan of USD610 million in order to refinance the 2016 project construction facility.
  • We advised Banco General S.A. in connection with a $22.5 million secured loan to Sociedad Urbanizadora del Caribe, S.A. (SUCASA), a well-known developer in Panama.
  • We advised The Bank of Nova Scotia, Banco Internacional de Costa Rica, S.A. (BICSA), Unibank, S.A. and Mercantil Banco, S.A., in connection with a secured $40 million syndicated loan to Evolution Hotel, S.A. which will be used to finance the operation of the W Hotel in Panama.
  • We assisted various lenders in connection with an up to USD100 million credit facility to AGP America S.A.
  • We acted as local counsel to Elliott Management Corp. (EMC) and subsidiaries, in relation to the repayment of debt owed by Synergy Aerospace Corporation, contemplated under loan agreement transaction between Synergy Aerospace Corporation and United Airlines, Inc.
  • We advised Prival and Banistmo in the syndicated financing granted to Grupo EXSUSA (Universidad Latina) for the purchase of Universidad Interamericana de Panamá.
  • We advised BAC International Bank in connection with a large scale securitisation with nine international investors.
  • 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 USD114 million.
  • We advised Banistmo, S.A., Bancolombia, S.A., Banesco, S.A., St. George’s Bank & Co., Caja de Ahorros, Banco Aliado, S.A., Credicorp Bank, Banco Latinoamericano de Comercio Exterior (BLADEX), as lenders, in relation to an up to USD276 million financing provided to a Mexican joint venture composed by Inmobiliaria Citelis Panamá, S.A. and Inversiones Amilena, Inc. for the purchase of the Soho Mall.
  • We represented Banistmo, S.A. in an approximately USD33 million financing for the construction and development of “Empire Residences” project.
  • We represented Banistmo, S.A. in an approximately USD67 million financing for the construction and development of “Pacific Point Torre 400” residential project.
  • We represented Bac International Bank, Inc. in an approximately USD35 million financing for the construction and development of PH “Greengarden”.
  • We advised the Colombian power generation company, Termocandelaria, to obtain USD245 million in new credit to refinance existing debt.
  • We assisted Bank of America Merrill Lynch in the structuring of a guaranteed financing and commodities framework agreement entered into with Kamca Trading for USD8 million.
  • We advised The Bank of Nova Scotia (Panama Branch) in a loan to Cable & Wireless Panama, S.A. of up to USD60 million.
  • We advised The Bank of Nova Scotia in a USD35 million loan to Melones Oil Terminal Inc. for the refinancing of an existing loan.
  • We advised Citibank N.A. in connection with a USD50 million loan agreement to GTM Holding, S.A., GTM Do Brasil Comercio de Productos Quimicos Ltda.
  • We assisted Gas Natural Atlántico, S. de R.L. and Costa Norte LNG Terminal S. de R.L., as borrowers, in an approximately USD600 million financing for the construction and development of an LNG power block and LNG terminal.
  • We advised Gas Natural Atlántico II, S. de R.L., (borrower) in connection with a loan agreement of up to USD60 million entered into with The Bank of Nova Scotia (Panama Branch) for the financing of the construction of a transmission line in Panama.
  • We advised Global Bank Corporation in a syndicated loan to MK Aviation S.A. of up to USD14.15 million.
  • We assisted Imperia Intercontinental in connection with a USD100 million credit facility.
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Contact

  • 2nd Floor, Humboldt Tower, East 53rd Street, Urb. Marbella, Panama City, Panama, P.O. Box 0819-09132
  • Tel.: +507 269-2620
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