Intellectual Property team of Morgan & Morgan is featured in The World´s Leading Trademark Professionals 2019
Enrique Jiménez, María Eugenia Brenes and Allen Candanedo, partner and associates of the Intellectual Property Department of Morgan & Morgan, have been featured in the 2019 edition of the ranking table World Trademark Review 1000 – The World´s Leading Trademark Professionals.
The publication, which focuses exclusively on trademark lawyers, has become the “definitive source of information” for those seeking first rate experience in the field. As in all its prior publications, this year the search was exhaustive to identify the outstanding firms and lawyers in this critical area. The factors influencing the classification are: years of experience, market presence, and level of day-to-day work, as well as feedback from colleagues and clients.
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Morgan & Morgan advised The Goldman Sachs Group Inc. in the negotiation of a Security Purchase Agreement with McDermott International, Inc.
Panama, December 7, 2018. Morgan & Morgan represented certain investment funds managed by the Merchant Banking Division of The Goldman Sachs Group Inc. (“Goldman Sachs”) in the negotiation of a Security Purchase Agreement pursuant to which Goldman Sachs acquired for US$300 Million, 12% Redeemable Preferred Stock of McDermott International, Inc., a Panamanian corporation (the “Company”), and a warrant to purchase a number of shares of the common stock of the Company.
Morgan & Morgan advised the Hitachi, Ltd., Mitsubishi Corporation, and Ansaldo STS, S.p.A. with an Agreement to provide a monorail system for Line 3 of the Metro of Panama
Morgan & Morgan advised the Hitachi, Ltd., Mitsubishi Corporation, and Ansaldo STS, S.p.A., in connection with an Agreement signed with Metro de Panamá, S.A., a corporation 100% owned by the Republic of Panama, regarding the participation of this group of companies that, led by Hitachi, Ltd., shall perform the works of the Nominated Subcontractor under the turn-key contract for the Monorail type Line 3 of the Metro of Panama Project (the Line 3 Project), which will be signed with a Main Contractor selected through a public bidding process under the laws of the Republic of Panama.
The Nominated Subcontractor will be responsible for the design, supply, and putting into operation of the Integrated Operating Systems (SIO) of the Line 3 Project, including Monorail type of Rolling Stock, signaling system, train control based on CBTC technology and communication system, control center, traction power system and low-voltage transformation system, track switches and automatic platform doors, among other responsibilities.
This transaction’s complexity was mainly that the contractual terms and conditions of the Nominated Subcontractor’s contract had to be agreed with Metro de Panama, S.A. as the Project’s Owner, but not as a party of the said contract between the Nominated subcontractor and the Main Contractor. Such terms and conditions, which had to
anticipate the contractual relationship with the resulting Main Contractor of the Line 3 Project bidding process, are to be reflected as part of said bidding process’ bid documents.
The Metro of Panama is the most important public infrastructure project under development in the Republic of Panama and the first of its class in Central America.
Morgan & Morgan advised Cirsa Gaming Corporation, S.A. in connection with the offering of senior secured notes and floating rate senior secured notes
Morgan & Morgan acted as counsel to Cirsa Gaming Corporation, S.A. (Cirsa) in connection with the offering of €663,000,000 6.250% senior secured notes due 2023, €425,000,000 floating rate senior secured notes due 2023, U.S. $550,000,000 7.875% senior secured notes due 2023, issued by LHMC Finco S.a.r.l. (Issuer), and to be guaranteed by the Issuer and, among others, Gaming & Services de Panama, S.A.
Cirsa is one of the leading gaming companies in Spain, Italy and Latin America and is engaged in the operation of slot machines, casinos and bingo halls and the manufacture of slot machines.
Partners Francisco Arias, senior associate Roberto Vidal and associate Cristina De Roux, participated in this transaction.
Morgan & Morgan acted as special Panamanian counsel to Alta Cordillera, S.A., in connection with a credit facility agreement granted by PDS Gaming-International, LLC, M&G Illiquid Credit Opportunities Fund Limited and M&G Illiquid Credit Opportunities Fund II Limited, as lenders, to Alta Cordillera and Codere Newco, S.A.U., as borrowers. PDS Gaming LLC acted as arranger, servicer and agent for the lenders and PDS Gaming-International, LLC acted as collateral agent.
Morgan & Morgan advised Hidrotenencias, S.A., with respect to the sale of its hydroelectric generation business to EnfraGen Spain, S.A.
Morgan & Morgan acted as Panamanian counsel to the shareholders of Hidrotenencias, S.A., a company that owns and operates three run-of-the-river hydropower plants located in the province of Chiriqui, in connection with the sale of their stake in the company to EnfranGen Spain, S.A.
This cross-border transaction, which involved attorneys from Panama and the United States of America, consisted in the sale of the 100% of the shares of Hidrotenencias, S.A., which in turns owns 100% of the shares of Las Perlas Sur, S.A., Las Perlas Norte, S.A. and Istmus Hydro Power Corp., corporations with hydroelectric generation concessions in the Republic of Panama.
Partner Francisco Arias G., senior associate Roberto Vidal and associate Cristina De Roux, participated in this transaction.
Morgan & Morgan advised Banistmo Investment Corporation with respect to the financing of the first LNG terminal in Panama
Morgan & Morgan advised Banistmo Investment Corporation, S.A. as holder of local collateral of several energy projects and the most recent being the Gas Natural Atlantico, S. de R.L. and Costa Norte LNG Terminal S. de R.L. LNG project locate in the province of Colon, Panama, which is an approximately US$600 million financing.
This is a cross-border transaction involved attorneys from United States of America and Panama. The matter is from 2016 however the firm continue to advise in issues that arise from the financing.
Senior associate Kharla Aizpurua Olmos, participated in this transaction.
Morgan & Morgan advised First Quantum Minerals Ltd. in the offering of senior notes for an amount of up to US$1.85 Billion
Morgan & Morgan acted as Panamanian legal counsel to First Quantum Minerals Ltd., in connection with the offer of up to US$850,000,000.00 in aggregate principal amount of 6.500% senior notes due 2024 and up to US$1,000,000,000.00 in aggregate principal amount of 6.875% senior notes due 2026. The issuance was agreed pursuant to the terms and subject to the conditions set forth in the offering memorandum dated February 20, 2018.
The proceeds of the issuance will be used to repay the company’s revolving credit facility with a view to providing liquidity sufficient to fund the company’s share of remaining capital expenditures at the Cobre Panama project (a US$6.4 Billion open-pit copper mining, the biggest private sector investment in Panama´s history), to repay its term loan facility, for general corporate purposes and to pay fees associated with the offering.
Morgan & Morgan advised Banistmo, S.A. in the structuring and registration of revolving corporate bonds for an amount of up to US$300 million
Morgan & Morgan advised Banistmo, S.A. in the structuring and registration with the Superintendency of Capital Markets of Panama of US$300,000,000 revolving corporate bonds. The bonds will be issued in different series with maturities ranging from 2 to 15 years and interest rates may be fixed or floating.
Banistmo, S.A. is a wholly owned subsidiary of Bancolombia, S.A. and is one of Panama’s largest banks with more than US$9MM in assets and deposits that exceed US$6MM. The funds received from the issuance of the bonds will constitute a new source of financing for Banistmo and will be used to grant new loans and expand its growing pool of receivables.
In the transaction, Morgan & Morgan’s attorneys worked with the executives of Banistmo’s department of investment banking in Panama and with the members of Bancolombia’s investment banking company in Colombia, knowingly, Banca de Inversion Bancolombia, S.A. The bonds received a local credit rating of ‘AAA(pan)’ from Fitch Ratings.
Partners Francisco Arias and Ricardo Arias, and senior associate Roberto Vidal, participated in this transaction.
Morgan & Morgan advised MMG Bank Corporation in the structuring of a program of revolving corporate bonds for an amount of up to US$100 million
Morgan & Morgan advised MMG Bank Corporation in the structuring of a program of revolving corporate bonds for US$100,000,000 of Corporacion Interamericana para el Financiamiento de Infraestructura, S.A. (CIFI). The bonds were registered with the Superintendency of Capital Markets of Panama.
The issuer of the bonds is CIFI and MMG Bank acted as arranger and is engaged as bookrunner and paying agent of the bonds. The bonds will be issued in different series with maturities ranging from one to ten years and interest rates may be fixed or floating. CIFI is a non-banking financial institution that provides financing for infrastructure and energy projects in Latin America and the Caribbean. The shareholders of CIFI include multilateral financial institutions, banks and state development funds. The funds received from the issuance of the bonds will constitute a new source of financing for CIFI and will be used to grant new loans for infrastructure projects, finance working capital and refinance all or part of its debts. In the transaction,
Morgan & Morgan’s attorneys worked with the executives of MMG Bank’s department of investment banking in Panama and with the members of CIFI’s finance department.
Partners Inocencio Galindo and Ricardo Arias, and associate Pablo Epifanio, participated in this transaction.