Market: Panama

Panama’s Banco General makes US$400 million bond offering

Panama’s Banco General has hired Clifford Chance LLP in New York and Arias Fábrega & Fábrega in Panama City to raise US$400 million in its first-ever additional tier 1 (AT1) issuance, the value of which can be converted into equity.

25 May 2021

Deal of the Year Winner: Project Finance (Energy)

Featured in 15th Annual Awards

The combined project bond issuance and bank debt package was one of Latin America’s largest power project financings in 2020 and occurred over two concurrent cross-border transactions. The company’s multijurisdictional activities required the coordination of law firms in the US, Spain, Chile, Colombia and Panama. It is our energy project finance Deal of the Year.

24 May 2021

Multilatina makes Central America’s largest green debt tap

Several international and Latin American law firms have helped the renewables subsidiary of Guatemalan multilatina Corporación Multi Inversiones (CMI) make Central America’s largest green bond issuance as part of a US$1 billion liability management transaction.

04 May 2021

Panama data protection law goes into effect

Panama’s new data protection law is loosely based on GDPR, but it offers wide exemptions for big tech companies and the financial sector.

26 April 2021

Fast-food chain pays off debt in Central America and Mexico

Arias’ offices in Costa Rica, El Salvador, Guatemala and Panama have helped Mexican fast-food chain operator Premium Restaurant Brands (PRB) obtain a US$167 million financing from a syndicate of Mexican and Central American banks and cancel its existing debt with Goldman Sachs.

20 April 2021

Panama faces bid to revive mining arbitration

A US mining company that saw the bulk of its US$322 million International Centre for Settlement of Investment Disputes (ICSID) claim against Panama dismissed has applied to partially annul the award.

29 March 2021

Costa Rican court enforces ICC award against construction group

The Supreme Court of Costa Rica has confirmed a US$23 million International Chamber of Commerce (ICC) award against one of the country’s largest construction groups – despite the fact it had not signed the underlying arbitration agreement.

26 March 2021

IDB Invest backs first sustainable bond programme in Central America

Allen & Overy LLP in New York and BLP (Costa Rica) have helped IDB Invest issue a credit guarantee facility to back Banco Promerica’s US$50 million sustainable bond programme, the first of its kind in Central America.

05 March 2021

ICC stands by Panama Canal arbitrators

The International Chamber of Commerce (ICC) has refused to disqualify three arbitrators who issued a US$265 million award in favour of the Panama Canal Authority, ruling that their alleged failure to disclose certain professional relationships did not call their impartiality into question.

23 February 2021

Latin Lawyer's Leading Lights for pro bono

Featured in Pro bono 2020

Here we celebrate “Leading Lights”, the law firms making a noteworthy contribution to strengthening Latin America’s pro bono culture.

22 February 2021

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