Alcogal acted as Panamanian legal counsel to Elektra Noreste, S.A. (ENSA) in the registration before the Superintendence of the Securities Market of Panama of its Revolving Corporate Securities Program for an amount of up to US$300,000,000.00, listed on the Latin American Stock Exchange (Latinex).
The Program, with a ten-year term, contemplates the issuance in multiple series of Corporate Bonds and Commercial Paper (VCNs). The net proceeds from the first series placed will be used primarily to finance the expansion, modernization, and maintenance of the issuer's electricity distribution network.
This transaction was led by our partner Rafael Marquínez.