Capital Markets


The Firm has for many years represented issuers and underwriters in capital markets, advising large companies on initial public offerings, registered equity and debt offerings, structuring and registration of investments funds,  as well as, assisting many clients in obtaining different types of licenses before the Superintendence of Securities Markets, including securities brokerage and investment funds administration.

The firm advises many of the largest companies in Panama on their offerings. The firm’s diverse Capital Markets practice includes representing financial institutions covering the whole financing life cycle and draws on experience from our banking, capital markets, financial restructuring and insolvency, regulatory and dispute lawyers.

The firm has had the opportunity to participate as legal advisers of sellers and buyers, in most of the Public Offerings of Securities (OPAS) that have been made in Panama.

All these experience have brought a professional enrichment to our team of lawyers.

Relevant Transactions:

  • Escrow Agent in the main financial transactions in the history of Panama when the British Bank HSBC, through a Tender Offer acquired 100% of the shares of the Grupo Banistmo offering a price per share of US$ 52.63, which is equivalent to a total price of US $ 770,000,000.00. Our firm participated in the purchase acting as escrow agents of the agreement by which a group of shareholders representing 65% of the shares of Grupo Banistmo, S.A. guaranteed HSBC their acceptance to the launched tender offer, which allowed us to be active members of the takeover bid.
  • Legal Counsel of Prival Securities, INC., our team prepared legal, corporate and administrative documents in order to constitute organize and operate; to obtain the corresponding government authorizations before the National Securities Commission so as to acquire the brokerage license and investments administrator.
  • Legal Counsel for the registration of corporate bonds subject to a public offering, issued by the company ALBROOK LEASING COMPANY, INC., up to the sum total of seventy million dollars (U.S. $ 70,000,000.00). We take from the making of all contracts related to the issue, as well as conduct all negotiations with the Superintendence of Securities Market, to obtain the authorization of the issue.
  • Legal Counsel for the registration of a rolling program of corporate bonds, subject to a public offer for a nominal value up to seventy million dollars (U.S.$70,000,000.00), issued by Capital Bank. We did the making of all contracts related to the issue, as Agency Agreement, Brokerage, we document the OPA guarantees, as well as conduct all negotiations with the Superintendence of Securities Market, to obtain authorization from the emission.
  • Legal Counsel for the registration of a rolling program of commercial paper notes by the company “Corporación Finanzas del País” of an amount of up to ten million dollars (U.S. $ 10,000,000.00). We did the making of all contracts related to the issue, as well as we conducted all negotiations with the Superintendence of Securities Market, to obtain the authorization of the issue.
  • Legal Counsel for the registration of corporate bonds which are subject to a public offering, issued by the company UNICORP TOWER PLAZA, SA, to the sum of twenty million dollars (U.S.$ 28,000,000.00). We did the making of all contracts relating to the issue, as well as we conducted all negotiations with the Superintendence of Securities Market, to obtain the authorization of the issue.
  • We prepare legal, corporate and administrative documentation for the constitution, organization and operation of Prival Securities, Inc.; we did the making of the paperwork before the National Securities Commission in order to obtain the licenses for brokerage and for the investment manager for Prival Securities Inc.; we prepared manuals, regulations, policies and procedures required in order to obtain such licenses.