Project Finance

With one of the most experienced project financing teams among Panamanian law Firms, we represent the full spectrum of project participants, including lenders, subscribers, sponsors, joint ventures, contractors, government agencies, and multilateral institutions.

Our team assists its clients in investment opportunities, structuring, establishment, and protection. At the client’s request, the complete package conceives all aspects of the project and the investment in the country, including its financial and corporate and fiscal structure.

We combine strong legal skills with in-depth knowledge about the industry. The extension of our lawyers’ experience allows us to work simultaneously in multiple teams to handle the most complex transactions. The Firm also facilitates the financing and establishment process by contacting and connecting the client with the relevant authorities to guarantee the process in the public or private sector.

Relevant Transactions:

• We advised a MetroTust to act as trustee and collection manager, on behalf of the banking entity that acquired the no objection certificates issued by the Metro of Panama, under the design engineering services contract, construction of civil works, auxiliary facilities of the line and stations, supply and installation of the integral rail system of Line 2 of the Panama Metro.
• The Firm advised MetroBank, S.A. in the $15,000,000.00 financing to the Consorcio Linea 2 del Metro de Panama for the partial construction of the Metro Line 2 Ramal – Tocumen International Airport segment.
• We participated in the bond issuance project of the Tocumen International Airport, S.A. (AITSA) for an amount of U.S. $ 600,000,000.00. The offer was made both in the local and international markets, and the funds were used for the airport expansion program. The Firm advised a general license Panamanian bank, who directed issuance of local bonds, while Citibank led the distribution of international bonds that shared the guarantee package.
• The Firm advised a leading company in the energy sector to finance U.S. $ 140,000,000.00 for the construction and development of a 58MW hydroelectric plant awarded by eight international credit institutions, including compliance with the conditions precedent for each disbursement.
• The Firm advised Franco Nevada Corporation (Canada) in its precious metals stream financing agreement and guarantees contracts with First Quantum Minerals LTD and Korea Resources Corp. Franco Nevada has committed USD$1.36B to construct Minera Panama’s Cobre Project, currently one of the world’s largest copper mines in production.
• The Firm advised the purchasing party in the financing to acquire three Solar Plants (27,50 MW) located in Cocle and Azuero region of Panama. 
• The Firm advised an international general licensed bank in the syndicated financing for the U.S. $ 37,000,000.00 acquisition of a hydroelectric power plant. Our assistance included finalizing all legal documentation and execution of financing.
• Legal advisors of German and French financial institutions in the structuring syndicated financing of U.S. $ 96,000,000 for the construction and commissioning of a hydroelectric power plant (58 M.W.). Our assistance included preparation of all legal documentation of the guaranteed under Panama law.
• Legal advisors of a Panama capital bank with a general banking license, in the financing of U.S. $ 50,000,000.00 for the construction and commissioning of a new thermoelectric generation plant, with an installed capacity 49.95MV. The Firm provided all legal documents for financing.
• Legal advisors of a Panama capital bank with a general banking license, in structuring the financing of U.S. $ 70,000,000.00 for constructing a residential complex in Panama City. The Firm provided all legal documents for financing.
• Legal advisors of a Panamanian bank with a general banking license, in the financing to a data processing company and the structuring of a trust that manages cash flows from Panama City’s public transportation card Rapipass.
• Legal advisors of a Panamanian bank with a general banking license, in the structuring of the syndicated refinancing of US$35,000,000.00 for the construction project of a 10 M.W. hydroelectric power plant.
• Legal advisors of a Panamanian bank with a general banking license, in the structuring of the syndicated refinancing of U.S. $ 19,000,000.00 for the construction and commissioning of hydroelectric power with an installed capacity of 7.62 MW.

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