Morgan & Morgan‘s capital markets team continues to operate at the forefront of the financial sector, active in bond issuances and equity listings, including public offerings. The team draws on the firm’s wider corporate law expertise to advise on thematic transactions and complex multi-jurisdictional issuances. It also regularly advises on debt restructuring, notably through the issuance of senior secured notes, which sets it apart in the market. Francisco Arias, a seasoned capital markets expert with an extensive record in transactions and regulatory work, leads the team alongside Ricardo Arias, who is highly regarded for his fund formation expertise. Miguel Arias M. is a name to note for capital markets advisory. In 2025, Mónica Moreno joined the team from Sigma International and Global Market Attorneys.
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Testimonials
Collated independently by Legal 500 research team.
- Knowledge, availability, understand how the client works and adapt that need to that work.
- Knowledge of the stock market in Panama and the availability to provide accurate and immediate advice to achieve the objectives.
- The organization and integration of the staff makes the different teams working towards a common goal almost transparent to the client.
- The diversity of areas that can be handled internally makes it easier for the client to talk to a single firm.
- Morgan & Morgan possesses positive attributes such as meticulous attention to detail in document preparation and review, and expertise in complex financial structures and instruments that allow them to stand out among other firms. Ana Carolina Castillo, in particular, stands out given her extensive knowledge and experience in both financial markets and regulations, as well as the industry itself.
- Morgan & Morgan's extensive knowledge of the Panamanian Stock Exchange, the financial system, and the specifics of trust and loan agreements, uniquely positions them to represent us in the most favorable way in the various structurings and negotiations with financial institutions.
Key clients
- Banco Aliado, S.A.
- Ithaca Capital Partners
- Avanzalia Panamá, S.A.
- Green Tower Properties, Inc.
- IFG Real Estate Fund Inc.
- IFG Investment Opportunities Fund
- MMG Global Allocation Fund, Inc.
- Francisco Marroquin University
- Corporación Andina de Fomento (CAF-el Banco de Desarrollo de América Latina)
- Cochez y Cía, S.A.
- Mercantil Holding Financiero Internacional, S.A.
- Banisi, S.A.
Work highlights
Advised Banistmo, S.A. and Brightstar Management Corp. in the structuring of a public offering of a US$100 million revolving programme of corporate bonds.
Advised CIFI in the structuring of a public offering of a US$150 million revolving programme of corporate bonds.
Advised Avanzalia Panama, S.A. in the registration of a US$100 million revolving programme of corporate bonds.
Lawyers
Leading partners
The strongest partners in their field, leading on market-leading deals and endorsed by peers and clients alike.
Leading associates
Leading associates with regular involvement in their team's key work, and recognition from peers or clients as being ones to watch.
Practice head
Francisco Arias; Ricardo Arias
Other key lawyers
Miguel Arias M.; Mónica Moreno