Panama, November 25, 2021. Morgan & Morgan Legal advised Marevalley Corporation, a holding company of subsidiaries engaged in the consumer finance business in Panama, Costa Rica, El Salvador, Nicaragua and Mexico primarily under the Instacredit brand (the “Issuer”), in the registration of a revolving program of corporate bonds to be issued in series for an amount of up to US$150,000,000 with the Superintendency of Capital Markets of Panama for their public offering, which such corporate bonds were successfully placed through the Latin American Stock Exchange in eight (8) series. The funds received by the Issuer as a result of the issuance of the 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 corporate bonds.
Partners Ricardo Arias participated in this transaction.