Morgan & Morgan advised Banisi, S.A. on a revolving corporate bond program of up to US$100 million.

Panama, March 17, 2026. Morgan & Morgan advised Banisi, S.A. (“Banisi”) on the registration of a revolving corporate bond program of up to US$100 million before the Superintendence of Capital Markets of Panama and on the listing of the bonds with the Latin American Stock Exchange (“Latinex”).

The program contemplates the issuance of bonds in multiple series, which may be structured as Senior Series or Subordinated Series. It also provides for the possibility that such series may be granted a label in accordance with criteria established under internationally recognized frameworks and/or standards, whether current or future. The Subordinated Series may also be structured to qualify as part of the bank’s capital for capital adequacy purposes.

This feature is particularly significant, as it gives the program additional flexibility and potential alignment with international market standards, while also potentially enabling the issuer to access a broader and more diversified investor base, including investors with specific sustainable investment mandates.

Banisi is a bank holding a general license in the Republic of Panama, regulated by the Superintendency of Banks of Panama, and authorized to operate both locally and internationally. The institution has positioned itself as a commercially focused bank, with a solid institutional structure and a comprehensive range of financial products for both corporate and consumer clients.

The transaction required regulatory and capital markets advice, particularly in connection with the structuring and implementation of a program with structural flexibility and potential alignment with international standards.

Partner Ricardo Arias, and associate Ariana Linares, participated in this transaction.