Panama

Alcogal acted as the Panamanian legal advisor to IDB Invest in its role as an anchor investor in the issuance of sustainable bonds by Banistmo S.A., for a total amount of US$100 million. This transaction, which involves the subscription of IDB Invest bonds on the Panamanian public securities market, aims to expand access to credit for women-led SMEs and support projects focused on climate resilience and adaptation.    

Alcogal advised Banco Ficohsa (Panama), S.A. on the registration of its Revolving Corporate Securities Programme for up to US$30,000,000.00, structured by Global Bank Corporation. The transaction involved the participation of our partner Rafael Marquínez Marquínez, together with associate Lilah Levin, reaffirming the firm's commitment to legal excellence in the Panamanian capital market. With this support, Alcogal strengthens its role in operations that contribute to the growth of the securities market and the development of the region's financial system.  

We acted as Panamanian legal advisors in Bladex's first international AT1 bond issue, which reached US$200 million and was widely welcomed by international investors. The transaction was led by Bank of America Securities and J.P. Morgan Securities, LLC as lead coordinators, with Jefferies as co-manager. The attorneys involved in this transaction were Arturo Gerbaud, Rita de la Guardia, and Rafael Marquínez.

Alcogal advised BBVA Colombia on the process of obtaining its International Banking License from the Superintendency of Banks of Panama (SBP). Our firm provided legal advice, successfully incorporating BBVA Colombia into Panama's prestigious International Banking Center. This milestone not only marks a strategic step for BBVA Colombia in its expansion but also reaffirms Panama as a key and robust jurisdiction for financial operations at the regional level. The attorneys involved were Alcogal’s managing partner Arturo Gerbaud and partners Rita de la Guardia and Rafael Marquínez.