
About
Provided by Morgan & Morgan
Recent relevant transactional experience includes among others:
Advising Supermercados Xtra, S.A. in the registration of common shares for an amount of up to US$45.5 million. This transaction was the first placement of common shares in Panama by an issuer of the retail sector in the last 20 years.
Advising Banco General, S.A., and Banistmo, S.A. in the public offering and issuance by Fountain Hydro Power Corp. of corporate bonds for an amount of up to US$110 million.
Advising Cirsa, one of the leading gaming companies in Spain, Italy and Latin America, in the offering of €615,000,000 aggregate principal amount of 4.500% Secured Notes due 2027.
Advising Banco La Hipotecaria, S.A. in the public offering of Mortgage Loan Notes for an amount of up to US$112,500,000.00.
Advising Latin American Kraft Investments, Inc., a global company engaged in the business of packaging manufacturing, in the public offering of cumulative preferred shares for an amount of up to US$50,000,000.
Advising Marevalley Corporation, a holding company of subsidiaries engaged in the consumer finance business in Panama, Costa Rica, El Salvador, Nicaragua and Mexico, in the public offering of corporate bonds to be issued in series under a revolving program for an amount of up to US$150,000,000.
Chambers Review
Morgan & Morgan offers a highly regarded capital markets practice that is experienced at advising on the issuance of debt and equity securities through private placements and public offerings. The team boasts strong expertise across sovereign, green and corporate bond issuances, in addition to handling initial public offerings. The department is equally capable representing major corporate issuers and financial institutions acting as underwriters and initial purchasers.
Work Highlights
- Morgan & Morgan assisted Banco La Hipotecaria in the public offering of mortgage loan notes for an amount of up to USD112.5 million.
Strengths
Provided by Chambers
"Morgan & Morgan's team is comprised of professionals with a varied expertise and background, which allows them to offer a holistic approach to their advice. They have vast knowledge of securities law and have been able to advise us on very complex transactions."
"Morgan & Morgan's team is comprised of professionals with a varied expertise and background, which allows them to offer a holistic approach to their advice. They have vast knowledge of securities law and have been able to advise us on very complex transactions."
Notable Practitioners

Distinguished partner Francisco Arias is frequently seen acting as counsel to issuers, underwriters and initial purchasers on public and private offerings of bonds and shares. One interviewee enthuses: "Francisco Arias is a key figure who has set the industry standards in Panama," while another respondent goes on to add: "He is an excellent lawyer who is able to handle very important capital markets transactions."

Dynamic partner Ricardo Arias breaks into the numbered bands for the first time this year following significant endorsements from clients, with one stating: "Not only is Ricardo Arias an expert in securities law, but he is also a client-oriented and transactional lawyer who is capable of managing complex deals."
Ranked Lawyers at
Morgan & Morgan
Panama
Members
Provided by Morgan & Morgan
Aristides Anguizola

Head of Department
Kharla Aizpurua Olmos
Miguel Arias M.
Roberto Vidal
Clients
Provided by Morgan & Morgan
Avianca Holdings
Banco General
Banco La Hipotecaria
Banistmo
CM Realty
Cirsa Gaming Corporation
Credit Suisse
Deutsche Bank
Empresa Nacional de Energia
Grupo Cochez
Grupo Mercantil
Hidroeléctrica Bajos del Totuma
Inmobiliaria Nidaco
Insignia
Latin American Kraft Investments
MMG Bank Corporation
Mercantil Servicios Financieros Intl.
Morgan Stanley
Multibank
Norfolk
PANACREDIT
Supermercados Xtra
The AES Corporation
Industries
Provided by Morgan & Morgan
Banks
Education
Energy
Financial Services
Government
Mining and Metals
Real Estate
Transportaion
Utilities