Morgan & Morgan represented Green Tower Properties, Inc. (Green Tower) in the issuance of real estate bonds for an amount of up to US$55,000,000.00 which were successfully placed through the Panama Stock Exchange, S.A.
The bonds were placed by Green Tower for the operation and promotion of office and commercial spaces for rent in the MMG Tower building located in Costa del Este, Republic of Panama. The bonds are guaranteed by a mortgage over the building constructed and the flow of funds of the rents. Global Financial Funds, Corp., acted as trustee.
In January 2014, Fitch Ratings assigned AA-(pan) to the bonds issuance. The Rating Outlook is Stable.
Partner Francisco Arias, and associates Ricardo Arias, Roberto Vidal, Ana Carolina Castillo and Kharla Aizpurua Olmos, participated in this transaction.