Morgan & Morgan guides Electron Investment bond issuance

Morgan & Morgan has represented Panamanian company Electron Investment in its public offering of corporate bonds for a sum of up to $205 million, in relation to two hydropower generating facilities that it owns and operates.

The hydroelectric plants are Pando and Monte Lirio.

For the purposes of the public offering, Electron Investment registered the bonds with the Superintendence of the Securities Market of Panama under an abbreviated registration procedure for recurring registered issuers pursuant to Agreement 1-2019.

The bonds were successfully offered through Panama Stock Exchange and were acquired by a group of institutional investors, led by Banco General.

The issuer used the funds derived from the sale of thebBonds mainly to cancel the Series A of the corporate bonds issued under a public offering of bonds which is registered with the Superintendence of the Securities Market under Resolution No. SMV-407-15 of June 30, 2015, and to cancel a subordinated loan with Banco General.

Partners Ramon Varela (pictured) and Ricardo Arias, senior associate Ana Carolina Castillo and international associate Miguel Arias M., participated in this transaction.