Panama

IFLR1000 Reviews

Financial and corporate
Alemán Cordero Galindo & Lee

Alemán Cordero Galindo & Lee, or Alcogal for short was founded in 1985. Since then, it has become one of Panama’s premier full-service firms. It is headquartered in Panama City and is a member of Meritas. Arturo Gerbaud is the managing partner at Alcogal. 

 

Focusses / specialisms

The firm is top tier across financial, corporate and project development practice areas.

The banking team represents borrowers and lenders in credit facilities, bridge loans and syndicated loans for acquisition finance, project finance and other general financing matters.

The capital markets team advises issuers and underwriters in securitizations, bond issuances and tender offers.

The M&A team represents strategic buyers and sellers in acquisition related matters.

The project development team represents developers and bidders in infrastructure, ports, power and oil and gas related projects. 

 

Key clients

Key clients for the firm include Credit Suisse, Prival, Banco General, Banco Panamá, Leasing Bogota, Liberty Latin America, Consorcio Loma Cová, Grupo GEN, PTT Exploration and Production Public Company, Global Bank, Scotiabank and Deutsche Bank.  

 

Research period review: 31st edition (2020/2021)

During the research period the firm was active in banking, capital markets, M&A, project development and restructuring.

In banking the firm advised on a large acquisition financing and represented Panamanian commercial banks in a credit facility to a government entity. The firm also represented a number of domestic and international lenders on local and cross-border banking deals.

In capital markets the firm advised issuers and arrangers on corporate bond issuances mostly in the banking sector.

In M&A the firm advised buyers and sellers in a variety of industries on acquisitions. Many of these deals were cross-border.

The firm is advising on ongoing projects in infrastructure, telecommunications and energy.

In restructuring the firm represented a retail company in its incorporation of a strategic investor, and advised on an acquisition that was a product of a restructuring.

 

Deal highlights: 31st edition (2020/2021)

PTT Exploration $622 million acquisition of Partex

Republic of Panama $400 million credit facility

 

Client feedback: 31st edition (2020/2021)

Banking

"Positive attributes: excellent technical and legal knowledge on banking laws and recent of liquidation process (sort of Chapter 11)- always available at all levels of partners."

"Competent, focused lawyers. Commitment to quality. Respectful and polite."

 

Project development: Energy

"Hardworking, excellent knowledge of Panamanian law."

 

Project finance

"Practical. Business-oriented. Good knowledge on Panama and sector."

 

Arias

Founded in El Salvador, Arias has since expanded and added locations throughout Central America. The firm currently has offices in Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica and Panama. The Panamanian office is the firm’s newest office, which opened in 2011 and is located in Panama City. Siaska Lorenzo is the managing partner of the firm. 

 

Focusses / specialisms

The firm is best known for its work in the banking and finance practice area, but also does notable work in the M&A and project development practice areas.

It represents both strategic buyers and sellers across a variety of industries in acquisition and restructuring matters, as well as borrowers and lenders in banking matters including loan and credit agreements.

The project development team has experience in the telecommunications industry.

 

Key clients

Arias maintains strong relationships with key clients including Grupo Cobra, Indecomm Digital Services, Giant Bridge Company and Teléfonica. 

 

Research period review: 31st edition (2020/2021)

During the research period the firm advised a seller on an M&A deal and a holding company on a corporate restructuring.

 

Client feedback: 31st edition (2020/2021)

Bank lending: Lender side

"Knowledgeable, solid."

"Their prompt response and willingness to not only opine on our specific transaction but to educate us on the process specific to our transaction was very beneficial."

 

Maria Cristina Fabrega

"Maria's responsiveness, attention to meeting deadlines and willingness to educate beyond the specific transaction was immeasurable."

 

Arias Fábrega & Fábrega

Arias Fábrega & Fábrega is a full-service firm founded in 1914 in Panama City. The firm now also has offices in London, Hong Kong, British Virgin Islands, Belize and Uruguay.

 

Focusses / specialisms

The firm advises on some of the largest and most complex lending transactions, bond issuances and acquisitions involving Panamanian and international companies.

 

Key clients

Key clients include Simon Property Group and Medcom.

 

Research period review: 31st edition (2020/2021)

During the research period the firm was active in banking, capital markets and M&A.

In banking the firm advised foreign financial institutions in cross-border lending to Panamanian banks. The firm also advised borrowers on domestic and cross-border deals.

In capital markets the firm advised initial purchasers and underwriters on bond issuances.

M&A work included advising both buyers and sellers in cross-border acquisitions.

 

Deal highlights: 31st edition (2020/2021)

AR Holdings acquisition of Forever 21 Latin American operations

 

Quijano & Associates

Since its founded in 1959, Quijano & Associates has grown into a true international firm. Headquartered in Panama City, the firm has offices in Switzerland, Belize, Seychelles and the British Virgin Islands. Julio Quijano is the managing partner of the firm.

 

Focusses / specialisms

Quijano & Associates is known for its banking and corporate practice.

In banking, the firm represents borrowers in financing matters.

The M&A team represents strategic buyers and sellers in acquisition related matters.

The firm has experience over a wide range of industries include education, retail, chemicals and financial services. 

 

Key clients

Grupo Exsusa is a key client for the firm.

 

Research period review: 31st edition (2020/2021)

During the research period the firm was active in banking, capital markets and M&A.

In banking the firm advised mostly lenders on corporate financing.

Capital markets work included advising issuers on bonds.

In M&A the firm provided local counsel to buyers in cross-border deals.

Partner Augusto Arosemena departed the firm in March 2020.

 

Anzola Robles & Asociados

Anzola Robles is a Panamanian multidisciplinary law firm. It has one office in Panama City. It is a member of the Martindale-Hubbell network of law firms.  

 

Focusses / specialisms

The firm has a wide array of experience in a variety of sectors, including energy, telecommunications, infrastructure, banking and finance. The firm also has a strong M&A practice.

 

Key clients

Key clients for the firm include GTM Holdings, Eolónica, Pedregal Power Company and Hidroeléctrica San Lorenzo.

 

Client feedback: 31st edition (2020/2021)

 

M&A

"Good knowledge of the subject and a lot of disposition of the questions and answers to our concerns."

 

Project development: Energy

"Law firm with professional, competent and hard-working attorneys. The service is provided in a timely fashion by highly qualified and experienced attorneys."

Dentons Muñoz

Dentons Muñoz is a Central American firm in collaboration with global firm, Dentons.

 

Focusses / specialisms

The firm advises on banking, capital markets, M&A and project development. Its projects team is especially experienced in the infrastructure and energy sectors.

 

Client feedback: 31st edition (2020/2021)

 

Project development: Infrastructure

"Expertise, local knowledge, availability."

Galindo Arias & López

Galindo Arias & Lopez was founded in 1968 and is a full-service law firm. It has one office in Panama City. The firm is a member of the TAGLaw professional network of law firms. 

 

Focusses / specialisms

The banking and finance group is well respected and has a strong focus on regulatory compliance and multi-jurisdictional project financing.

The capital markets practice group is focussed on regulatory compliance and public offerings of debt and equity securities.

The M&A team covers all areas of M&A work including corporate transactions and financings, restructurings, debt and equity transactions and joint ventures.

The firm’s project development team is focussed on regulatory, corporate, and commercial matters in the energy sector.

 

Key clients

Key clients for the firm include Copa Holdings, Drake Group, Millicom and UEP Penonome.

Icaza González-Ruiz & Alemán

Icaza González-Ruiz & Alemán was founded in 1920 in Panama. The firm also has offices in Cyprus, Hong Kong, Singapore, Switzerland and Uruguay.

 

Focusses / specialisms

The firm specializes in financing transactions related to government entities. It advises banks and corporations under Panamanian law.

 

Key clients

Key clients include The Bank of Nova Scotia, Ministry of Economy and Finance of Panama, JP Morgan Chase Bank and Citibank.

 

Client feedback: 31st edition (2020/2021)

 

Banking

"Responsible. Competent. Hard-working. Focused lawyers. Commitment to quality."

 

Financial restructuring

"They were always available to discuss all the legal matters concerning the deal. They were very knowledgeable of Panamanian banking and civil laws. Very helpful in the process of registering the security."

Morgan & Morgan

Morgan & Morgan is a full-service Panamanian law firm founded in 1923.

 

Focusses / specialisms

The firm focuses on banking and project finance and also has a strong insolvency practice.

 

Key clients

Key clients include HSBC, Banco Nacional de Panama, Multibank and Merill Lynch.

Pardini & Asociados

Pardini & Asociados is an international law firm founded in 1982 in Panama. It now also has offices in Switzerland, Cyprus, Belize, BVI and Seychelles.

 

Focusses / specialisms

The firm specializes in foreign investments in Panama.

 

Key clients

Key clients include United Airlines, Exxon, Lufthansa and Bank of America.