Morgan & Morgan advised Electron Investment, S.A. on strategic refinancing and bond issuance for US$175 million.

Panama, December 5, 2025. Morgan & Morgan represented Electron Investment, S.A. (“EISA”) in structuring and negotiating a bridge financing granted by BAC International Bank, Inc., the proceeds of which were used for the early redemption of corporate bonds issued in 2020 through the Latin American Stock Exchange (Latinex). Once the existing bonds were canceled, Morgan & Morgan led the expedited registration process before the Superintendency of the Securities Market for a public offering of corporate bonds of up to US$175,000,000, as well as the placement of the first series of secured bonds, intended to repay the bridge loan and ensure the continuity of the company’s strategic operations.

The new secured bonds are backed by a comprehensive security package that includes a guaranty trust, a pledge over shares, mortgages on fixed assets and chattel, unconditional assignment of rights under power purchase agreements, and conditional assignment of material agreements.

EISA is a leading Panamanian company in the energy sector, specializing in hydroelectric power generation. It is the developer of the Pando and Monte Lirio hydroelectric projects, located in the upper-middle basin of the Chiriquí Viejo River in the province of Chiriquí. Monte Lirio has an installed capacity of 51.6 MW, while Pando adds an additional installed capacity of 32.6 MW. This complex financing reaffirms EISA’s strength and Morgan & Morgan’s commitment to transactions that promote sustainability and growth in the energy sector.

Partner Ana Carolina Castillo, and associates Miguel Arias M., Eduardo Oteiza and Ariana Linares advised EISA in this transaction.