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Español Morgan & Morgan advised Banco Davivienda Salvadoreño, S.A. in a US$39.5 million financing to companies that are part of the Premium Restaurant Brands group.
Panama, April 23, 2021. Morgan & Morgan advised Banco Davivienda Salvadoreño, S.A. (the “Bank”), of Colombian Grupo Empresarial Bolívar, which also has operations in Panama, Costa Rica, Honduras, El Salvador and Miami, in a US$39,500,000.00 financing granted in favor of certain companies part of the Premium Restaurant Brands Group (the “Group”), as well as in the creation of security interests in favor of the Bank, to guarantee the financing.
The Group has a presence in El Salvador, Guatemala, Costa Rica, and Mexico, with 27 years of experience in operating fast-food restaurants in the region.
Partner Roberto Vidal and International Associate Miguel Arias M. assisted in the transaction.
- Published in Roberto Vidal, Banking Law, expertise, Miguel Arias_exp
Morgan & Morgan advised Farmalisto in an equity investment of various investors
Panama, December 23, 2020. Morgan & Morgan advised Farmalisto, a health technology platform with presence in Mexico, Colombia, and Peru, with respect to the equity investment made by HBM Healthcare Investments (Cayman) Ltd., Inter-American Investment Corporation, Morgan Rio Capital Management, and other minority investors for the amount of up to US$18,000,000.00 in Farmalisto.
The proceeds of the investment will be used to strengthen its innovation processes, open new markets in the region and accelerate its expansion in the places where it currently operates.
Since the company has operations in various countries, there was a complex coordination with different legal teams and company´s executives to complete all the conditions precedent to close the transaction on time.
Partner Roberto Vidal represented Morgan & Morgan in this transaction.
- Published in 2020, expertise, Mergers & Acquisitios, Mergers & Acquisitios_publi, Roberto Vidal
Morgan & Morgan advised Continental Grain Company in an investment in Multifoods to support the company´s expansion plans
Panama, November 13, 2020. Morgan & Morgan advised Continental Grain Company (“CGC”) in an investment in Multifoods (“Multifoods” or the “Company”), a leading Peru-based contract-manufacturing firm engaged in the production of food and beverage products, working with both grocery retailers and CPG companies.
Morgan & Morgan advised CGC in all Panama law aspects of the transaction, based on the corporate structure of the Company. CGC is a privately-owned global investor, owner, and operator of companies with more than 200 years of history across the food and agribusiness spectrum. The US firm creates long-term value by applying deep industry knowledge, capital and talent to businesses ranging from established market leaders to promising innovators.
Partner Roberto Vidal represented Morgan & Morgan in this transaction.
- Published in expertise, 2020, Mergers & Acquisitios, Roberto Vidal
Morgan & Morgan achieves top rankings in Chambers Latin America 2021
Panama, October 2, 2020. Once again, Morgan & Morgan receives top rankings in the recently released Chambers & Partners Latin America Guide 2021, a key reference point of Latin American top law firms.
Morgan & Morgan has been recommended in several practices due to the firm´s excellent performance and prominent work in each one of these areas.
Likewise, the directory classifies within the top Bands the following attorneys of the firm:
- Inocencio Galindo: Banking and Finance / Projects and Energy / Corporate and M&A.
- Francisco Arias G.: Banking and Finance / Capital Markets / Corporate and M&A.
- Ramon Varela: Banking and Finance, Projects and Energy.
- Roberto Vidal: Corporate and M&A.
- Kharla Aizpurua Olmos: Banking and Finance.
- Ricardo Arias: Capital Markets.
- Ana Carolina Castillo Solis: Projects and Energy.
- Allen Candanedo: Intellectual Property.
- Maria Eugenia Brenes: Intellectual Property.
- Simon Tejeira Q.: Dispute Resolution.
- Jose Carrizo: Dispute Resolution.
- Luis Vallarino: Dispute Resolution.
- Jazmina Rovi: Shipping.
- Juan David Morgan Jr.: Shipping (Litigation).
- Francisco Linares: Shipping (Litigation).
Congratulations to all of them, and thanks to our clients for trusting us as their legal advisors in Panama.
Morgan & Morgan advised Panasolar Generation, S.A. in an issuance of corporate green bonds for US$15,500,000.00.
Panama, September 29, 2020. The green bonds are certified under the Climate Bonds Certification Scheme run by the Climate Bonds Initiative, an international, investor-focused non-profit organization, and the only organization working solely on mobilizing the $100 trillion bond market for climate change solutions.
The Climate Bonds Standard and Certification Scheme is a labelling scheme for bonds, loans & other debt instruments. Rigorous scientific criteria ensure that it is consistent with the goals of the Paris Climate Agreement to limit global warming to under 2 degrees. The scheme is used globally by bond issuers, governments, investors, and financial markets to prioritize investments that genuinely contribute to addressing climate change. This certification is the main international award recognizing the best practices in green finance, covering green bonds, loans and significant market developments in climate and transition investments.
The green bonds also have a verification by Pacific Corporate Sustainability (PCS) of the Pacific Credit Ratings group.
The green bonds have been registered with the Superintendency of Capital Markets of Panama and will be listed on the Panama Stock Exchange. MMG Bank acted as arranger and is engaged as bookrunner and paying agent of the green bonds.
Partners Roberto Vidal, Kharla Aizpurua Olmos and Ricardo Arias, and associate Cristina De Roux participated in this transaction.
Morgan & Morgan advised in a US$40 million bond issuance by Banco Latinoamericano de Comercio Exterior (Bladex)
Panama, September 14, 2020. Morgan & Morgan advised BofA Securities, Inc., Mizuho Securities USA LLC., and SMBC Nikko Securities America Inc., in an issuance by Banco Latinoamericano de Comercio Exterior (Bladex) of five-year term bonds for US$400,000,000.00 with a fixed coupon of 2.375%, under Rule 144A and Regulation S of the United States Securities Act of 1933.
Partners Francisco Arias G. and Roberto Vidal, and international associate Miguel Arias M. represented Morgan & Morgan in this transaction.
- Published in 2020, Banking Law, expertise, Francisco Arias, Miguel Arias_exp, Roberto Vidal, Securities and Capital Markets
Morgan & Morgan advised Gaming & Services de Panama, S.A. and Cirsa Enterprises Group, in connection with a revolving credit facility and a term loan facility
Panama, July 9, 2020.
Morgan & Morgan advised Gaming & Services de Panama, S.A. (the “Company”) and Cirsa Enterprises Group (“Cirsa”), a leading gaming group in Spain, Italy and a number of countries in Latin America, with respect to (i) a revolving credit facility agreement up to the amount of €55,000,000, by and among Cirsa Enterprises S.L.U., Cirsa Finance International S.à r.l. and the Company (as guarantor) with Deutsche Bank AG, London Branch and Barclays Bank Plc.; and (ii) a term loan facility agreement up to the amount of €20,000,000 by and among Cirsa Enterprises S.L.U., Cirsa Finance International S.à r.l., the Company (as guarantor) and Sculptor Capital Mnagement, as fund manager.
Partner Roberto Vidal represented Morgan & Morgan in this transaction.
- Published in Banking Law, expertise, Roberto Vidal
Morgan & Morgan advised Parque Industrial y Corporativo Sur, S.A. in connection with the public offering of revolving corporate bonds for an amount of up to US$100 million
Panama, April 24, 2020.
Morgan & Morgan advised Parque Industrial y Corporativo Sur, SA, in relation to the public offering of revolving corporate bonds (hereinafter the “Bonds”), which will be issued in multiple series, which may be senior series or subordinated series under a revolving program in which the outstanding principal balance of the Bonds issued and owed, in a single moment, may not exceed One Hundred million Dollars (US $100,000,000.00), legal tender of the United States of America. The series A of the Bonds may be guaranteed with a guarantee trust that has the usual assets for this type of transaction, such as monies, assigned rights, mortgages, among others.
Parque Industrial y Corporativo Sur, S.A. is a 42-hectare multipurpose project with high-quality, first-world infrastructure and buildings that serve as a storage and logistics center.
Partners Roberto Vidal and Kharla Aizpurua Olmos participated in this transaction.
- Published in expertise, Kharla Aizpurua, Roberto Vidal, Securities and Capital Markets
Alpha Credit © closes equity financing round led by SoftBank Latin America Fund
Panama, April 13, 2020.
Morgan & Morgan advised Alpha Credit ©, a leading technology firm that provides financial services to segments underserved by traditional banking institutions, specialized in consumer lending and financing for small and medium enterprises (SMEs), in the process to complete an equity financing round for more than MXN$2.4 billion (approximately US$100 million), led by SoftBank´s Latin America fund, one of the leading technology investors in the region.
Partners Francisco Arias and Roberto Vidal participated in this transaction.
- Published in expertise, Francisco Arias, Mergers & Acquisitios, Roberto Vidal
Morgan & Morgan advised the shareholders of Unity Group in a corporate restructuring and subsequent sale of its business to Willis Europe B.V.
Panama, March 12, 2020. Morgan & Morgan advised the shareholders of Unity Group, a holding company with subsidiaries engaged in insurance brokerage in Central America with operations in six countries (Panama, Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua), in a corporate restructuring and subsequent sale of its business to Willis Europe B.V., a company incorporated under the laws of the Netherlands and a subsidiary of Willis Towers Watson (NASDAQ: WLTW), a leading global brokerage and consulting firm. The transaction will increase the reach and scale of Willis Towers Watson in the Latin American region, both for its Corporate Risk and Brokerage (CRB) and the Human Capital and Benefits (HCB) segments.
This was a cross border transaction involving United States of America, British Virgin Islands, The Bahamas, Panama, Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua.
Partners Ricardo Arias, Francisco Arias, Roberto Vidal; senior associate Pablo Epifanio; and associate Miguel Arias, participated in this transaction.