We acted as Panamanian counsel to Global Bank Corporation in connection with a 144A/Reg bond issuance of US$300 million senior fixed to floating notes due 2029 with a rate of 5.25%, and a tender offer of approximately US$230 million. The deal closed in April 2019.

Bookrunners were: Citigroup, JP Morgan. Depository: Euroclear Bank, Clearstream Banking S.A.

Global Bank will use the money to pay for the buyback of its 5.125% notes due in 2019.

Our team of securities issue lawyers in Panama in charge of this transaction was led by partner Arturo Gerbaud and associates Rafael Marquínez and Rita de la Guardia. Mayer Brown acted as US Counsel to Global Bank Corporation.

Global Bank Corporation

Global Bank is a 100% Panamanian bank and started operations in 1994, originally as a corporate bank. However, given the considerable growth of the early years and with the vision of being a major player in the Panamanian financial sector, in 1999 Global Bank acquired 100% of the capital stock of Colabanco, becoming the first banking group to start mergers and bank acquisitions in Panama.

This transaction tripled Global Bank’s assets from 135 million to 454 million; Since 1999, Global Bank’s growth rates have been consistently higher than those of the industry. In year 2006 Global Bank reaches one billion in assets and inaugurates its Headquarters, located in 50th Street.

After 25 years of operations Global Bank now have 36 branches and 9 Express Centers in Panama with its headquarters on calle 50 in Panama City.

Alcogal – Securities issue lawyers in Panama

Widely recognized as the leading capital markets lawyers in Panama, Alcogal has long and close working relationships with many prominent international banking institutions,

Our clients trust our experience and ability to deliver solutions-focused advice and deal execution, especially when the factual and legal issues are challenging and/or the financing structures are complex. They entrust us with the most sophisticated and challenging finance transactions.

Alcogal represents lenders and borrowers in loan financings, underwriters and issuers in debt, equity and dealer managers and solicitation agents in exchange offers, tender offers and consent solicitations, in high-grade and cross-over credits.

Contact us for more information about our securities issue lawyers in Panama.

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