Morgan & Morgan advised Banistmo S.A., as facilities agent and administrative agent, in a multimillionaire financing agreement related to Line 3 of Panama´s City Metro System, one of the largest public infrastructure projects in Panama.

Panama, August 31, 2021. Morgan & Morgan acted as Panamanian counsel to Banistmo S.A. in its role as agent of the three facility agreements.

Additionally, Morgan & Morgan Legal acted as Panamanian counsel to Banistmo S.A., in its role as administrative agent of the Purchase Agreement of “Certificados de No Objeción”.

Transactions related to the purchase and sale of “Certificados de No Objeción” issued by Metro de Panamá, S.A. regarding Metro Line 3 of Panama City, Panama, which are guaranteed by the Republic of Panama through an “aval”.

This financing was one of the largest public infrastructure projects in Panama, amount of up to US$2 billion and JPY 51,458,523,871.00.

Partner Kharla Aizpurúa O. participated in this transaction.