Alcogal’s Panama Capital Markets Lawyers advised BAC International Bank, Inc., as issuer and Multi Securities Inc. as arranger in connection with the structuring and registration of a US$700 million corporate bonds issuance by BAC International Bank, Inc., as well as their public offering.

Multibank acted as lead manager and placing agent on the offering.

As legal advisors to the issuer and to the arranger, Alcogal was responsible for (i) drafting the core documents of the transaction and all the ancillary documents, as well as (ii) registering the corporate bonds issuance before the Superintendence of Securities Market of Panama.

This is the largest and most relevant issuance taking place this year, and it takes special relevance during the current Covid-19 health crisis, since an important banking entity in the marketplace such as BAC International Bank, Inc., maintains confidence in Panama´s securities market.

Partner Arturo Gerbaud, together with senior associate Rafael Marquínez, advised BAC International. The transaction closed on May 2020.

BAC International Bank, Inc.

BAC International Bank, Inc. offers financial services to individuals and institutions in Mexico, Guatemala, Honduras, El Salvador, Nicaragua, Costa Rica, and the Republic of Panama.

The Bank began operations on October 25, 1995, with a General License granted by the Comisión Bancaria Nacional (National Banking Commission) today Superintendencia de Bancos (Superintendency of Banks); the license enables the bank to carry out banking business in Panama and abroad. Its main office is located at Avenida Balboa, Calle 42 y 43, BAC Tower, Panama City, Panama.

Multi Securities, Inc.

Multi Securities provides competitive financial counselling and a wide range of products and services under the strictest ethical and confidentiality parameters.

Multi Securities´ commitment is to offer new investment opportunities and alternatives in the financial markets to satisfy the needs of clients, creating a high level of trust and credibility beyond all expectations.

Multi Securities works with institutional or individual clients in the local as well as international markets, using the most prestigious securities firms in the world.

Capital Markets Lawyers in Panama

Alcogal’s Panama Capital Markets Lawyers 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 regarding 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.

+