Alcogal, securities law firm in Panama, advised Alternegy, S.A., operating as a subsidiary of Celsia, member of Grupo Argos, with the issuance of its first bond offering in the amount of US$320 million 5,5% Notes due 2028. The corporate bonds were issued by Banco General, S.A. and Banistmo, S.A.

This is one of the year’s largest bond issuances for a corporate issuer in the Panamanian capital market. The issuance consisted of both local and international guarantees, the latter specifically consisting of assets located in the Republic of Costa Rica.

The transaction closed in December 2017.

About Celsia / Alternegy

Celsia is the energy section of parent company Grupo Argos with an innovative portfolio focused on energy efficiency that seeks to bring sustainability to cities, productivity to businesses and better quality of life for households. Celsia have a presence in Colombia, Panama and Costa Rica and have generating capacity of 2,399 MW from 28 hydroelectric, thermal, photovoltaic and wind power plants that generated 6,317 GWh in 2017.

Alternegy, S.A. is authorized by Concession Contracts granted by the Public Services Authority (ASEP), to provide the electricity generation public service, through the operation of power generation plants with respective connection lines to the transmission networks in order to produce and sell in the local or international electric system.

About Alcogal – Securities law firm in Panama

Alcogal advises many of the world’s largest and most sophisticated financial institutions on a full-range of banking, securities and related regulatory matters in the Republic of Panama.

Our lawyers in Panama advise our clients in regards to their ongoing regulatory and disclosure obligations with all the relevant local and foreign authorities, and ensure they are up to date concerning all legislative developments. In addition, we regularly represent financial institutions and/or intermediaries in the process of obtaining government-issued licenses to operate in Panama, in accordance with banking and securities laws.

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