Morgan & Morgan advises IFC, JBIC, EIB, IDB and CAF in connection with a US$ 2.3 billion loan to finance the Panama Canal Expansion

Morgan & Morgan acted as local counsel to International Financial Corporation (IFC), Japan Bank for International Cooperation (JBIC), The European Investment Bank (EIB), Inter American Development Bank (IDB) and Andean Development Corporation (CAF), in connection with a US$2.3 billion syndicated loan unsecured credit facility to finance the expansion of the Panama Canal. Francisco Arias G.

Morgan & Morgan provided legal counsel to La Hipotecaria, S.A. regarding cross-border securitization of mortgage loans and public offering of mortgage bonds for up to US$12,500,000.00

La Hipotecaria, S.A. as trustee of the Ninth Trust of Mortgage Loan Bonds, registered mortgage loans bonds for an amount of up to US$12,500,000.00 before the National Securities Commission of the Republic of Panama, which have also been successfully placed through Panama’s Stock Exchange. Payments due to holders of said bonds are secured by a

Morgan & Morgan advise HSBC in the negotiation with the US$1.8 billion acquisition of Grupo Banistmo, S.A.

Morgan & Morgan have acted as Panamanian counsel for HSBC in its completed acquisition of up to 100% of the issued and outstanding common shares of Grupo Banistmo, S.A., a Panamanian bank holding company which owns investment banking, brokerage, insurance and other operations in Panama, Costa Rica, Colombia, El Salvador, Honduras, Nicaragua, Cayman Islands, Bahamas, Montserrat

Morgan & Morgan advise AES El Salvador in US$300 million bonds issuance

On February 14, 2006, global power company AES issued US$300 million worth of bonds in the international market, guaranteed by four electricity distribution companies it controls in El Salvador. This issuance was the first by a private company to be guaranteed in this way originating from Central America. It was also the first investment grade