Alcogal acted as Panamanian legal counsel to Aurora SM Ventures, Corp. in the placement of its US$55 million corporate bond issuance, registered with the Superintendency of the Securities Market of Panama and listed on the Latin American Stock Exchange (Latinex). In this transaction, Aurora SM Ventures, Corp. acted as issuer and Multibank, Inc. acted as structuring agent. The issuance will support the development of Panama’s real estate sector by financing the project to be developed by Aurora through this financing structure. The legal work was led by partner Rafael Marquinez, together with Lilah Levin, junior associate, and Lia Díaz, legal assistant, who supported the different stages of the transaction. Rafael Marquínez also participated in the Bell Ringing Ceremony at Latinex in connection with this milestone for Panama’s securities market. The transaction reflects the firm’s continued participation in matters relevant to the development of Panama’s capital markets.