Morgan & Morgan Legal advised Mercantil Holding Financiero Internacional, S.A. in the registration of corporate bonds for an amount of up to US$100 million.
Morgan & Morgan Legal advised Mercantil Holding Financiero Internacional, S.A. (the “Issuer”), an affiliate of Grupo Mercantil and the indirect holder of leading enterprises in the banking and insurance business in Panama and other countries, in the registration of corporate bonds for an aggregate of US$100,000,000 with the Superintendency of Capital Markets of Panama in order for the Issuer to publicly offer the bonds in series.
The first series of the bonds for US$38,500,000 was successfully placed through the Latin American Stock Exchange ("Latinex”). The funds received by the Issuer as a result of the issuance will be used by the Issuer to finance the growth of its operations, amongst other purposes in its ordinary course of business. Prival Securities, Inc. and Mercantil Servicios de Inversión, S.A. acted as broker dealers for the placement of the bonds through Latinex.
Partners Francisco Arias G., Roberto Vidal and Ricardo Arias A., and international associate Miguel Arias participated in this transaction.