Alcogal counsels Multibank on $100m corporate bond registration
Alemán Cordero Galindo & Lee has counselled Multibank on its registration of subordinated corporate bonds for US $100M, through the abbreviated registration process of recurring issuers before the Superintendencia del Mercado de Valores (Superintendency of the Securities Market), so that they can be publicly offered in multiple series.
The firm also advised on the authorisation process before the Superintendency of Banks of Panama for the subordinated corporate bonds to be counted as secondary regulatory capital.
The first series of bonds for US $12M was successfully placed through the Latin American Stock Exchange (Latinex).
The funds will be used to strengthen the company’s secondary capital as well as its total capital ratio.
Multibank is a bank with a general banking licence issued by the Superintendency of Banks, with more than 30 years of experience in the Panamanian financial market.
Alcogal’s team consisted of partners Arturo Gerbaud (pictured left) and Rafael Marquínez (pictured right), as well as junior associate Rafael Amar and paralegal Lilah Levin.
