The banking, finance, and capital markets team of Alcogal advised AES Panama, S.R.L., the largest electricity generation company in Panama in terms of installed capacity and average energy dispatched, as well as the largest privately controlled hydro generation company in Central America (based on information provided by the National Dispatch Center), as issuer, in connection with the public offering of US$300 million due in 2022 and in connection with a tender offer for the purchase (as repayment) of the corporate bonds issued by AES Panama S.R.L. due in 2016. The 144A/Reg S issuance was registered with the Superintendence of Capital Markets and listed in the Panama Stock Exchange. Alcogal’s team for this transaction was led by partner Arturo Gerbaud, associate Rafael Marquinez and international associate Rita de la Guardia.