Alcogal and Morimor counsel on $110m Fountain Hydro Power issue

Alemán, Cordero, Galindo & Lee represented Fountain Hydro Power, while Morgan & Morgan advised the structurers and underwriters on the issue

 Alemán, Cordero, Galindo & Lee has counselled Fountain Hydro Power, as issuer, in connection with the public offering and issuance of corporate bonds for up to $110 million US dollars, which have been registered with the Superintendencia del Mercado de Valores de Panamá and successfully placed through the Bolsa Latinoamericana de Valores (Latinex). Morgan & Morgan has counselled the structurers and underwriters Banco General and Banistmo.

The bonds were issued for the purpose of refinancing the Issuer’s existing credit facilities granted for the construction and operation of the Bajo Frio Hydroelectric Plant with an installed capacity of 58 MW, located in the Province of Chiriqui.

The Issuer’s obligations under the Bonds are secured by a guarantee trust with BG Trust, an affiliate of Banco General.

Fountain Hydro Power Corp. is owned by Agua Imara ACA and Panama Hydroelect ric Ventures.

Alcogal’s team was led by partner Arturo Gerbaud (pictured top left), with support from partners Rafael Marquínez (pictured top centre), Rita de la Guardia (pictured top right) and junior associate Rafael Amar.

Morimor’s team was composed of partners Ramon Varela (pictured bottom left) and Ricardo Arias (pictured bottom right), senior associate Ana Carolina Castillo, and associate María Eugenia Crespo.