Alcogal acted as Panamanian counsel to the initial purchasers, Scotiabank Capital, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Banco General, in connection with the first 144A/Reg bond issuance of Empresa de Transmisión Eléctrica, S.A. (ETESA) of US$500 million. The deal closed in May 2019.

Our team in charge of this transaction was led by partner Arturo Gerbaud and associates Rafael Marquínez and Rita de la Guardia.