Morgan & Morgan advised Supermercados Xtra, SA on $300 Million Bond Program.

Panama, October 24, 2024. Morgan & Morgan is proud to announce its role in advising Supermercados Xtra, S.A., one of Panama’s leading supermarket chains, in the registration of a $300 million Revolving Corporate Bond Program with the Superintendence of the Securities Market (SMV) under the SMV’s Abbreviated Registration process. This significant transaction also included the listing of the bonds on the Latin American Stock Exchange (Latinex). The bond program is structured to include multiple series of bonds, each with distinct terms and conditions tailored to meet the issuer’s financing needs and market demand. The first series, Series A, amounting to $110 million, is secured by certain assets of the issuer.

The proceeds from this bond program will be utilized to support the growth of the issuer’s operations, refinance existing debts, and for other corporate purposes as determined by the issuer based on market conditions. Specifically, Series A will be used, among other things, to redeem certain Series A bonds issued by Supermercados Xtra, S.A. in 2019, totaling up to $65 million.

This transaction was led by Partners Ricardo Arias and Ana Carolina Castillo, with the support of International Associate Miguel Arias M., and Associate Katia Pallares, showcasing Morgan & Morgan’s expertise in structuring complex financial instruments and commitment to client success.