Panama, June 2, 2022. Morgan & Morgan Legal advised MERCANTIL SERVICIOS FINANCIEROS INTERNACIONAL, S.A. (the “Issuer”), the holding company of Grupo Mercantil and the indirect holder of leading enterprises in the banking and insurance business in Panama and other countries, in the private issuance of corporate bonds in the amount of US$10,000,000.00 (the “Private Bonds”), which were successfully placed on a private basis. The offer of the Private Bonds was made to persons domiciled outside the Republic of Panama and to institutional investors through an offer exempt from registration with the SMV under the provisions of section 3 of article 129 of the Securities Law and Agreement No. 1-2001 of January 17, 2001.
The funds received by the Issuer as a result of the offering will be used by the Issuer to finance the growth of its operations, amongst other purposes in its ordinary course of business.
Partners Francisco Arias G., Roberto Vidal and Ricardo Arias A., and international associate Miguel Arias participated in this transaction.