Morgan & Morgan advised Avner Perry Investments, S.A. in the registration of a revolving program of secured corporate bonds for an amount of up to US$50 million.

Panama, December 17, 2020. Morgan & Morgan advised  Avner Perry Investments, S.A., a company engaged in the warehouse leasing business in Panama primarily under the Galores Refrigerados brand (the “Issuer”), in the registration of a revolving program of secured corporate bonds to be issued in series for an amount of up to US$50,000,000 with the Superintendency of Capital Markets of Panama for their public offering, which such secured corporate bonds may be placed through the Latin American Stock Exchange in series.

The funds received by the Issuer as a result of the issuance of the secured corporate bonds in series will be used by the Issuer for working capital, refinancing of debt and other corporate purposes.  MMG Bank Corporation acted as paying agent and local broker dealer of the secured corporate bonds and as trustee of a collateral trust constituted by the Issuer, as settlor, in order to secure the obligations of the Issuer under the corporate bonds.

Partner Ricardo Arias participated in this transaction.