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: 32nd edition (2022/2023)
During the research period the firm was active in banking, capital markets, M&A, project development and restructuring.
In banking the firm participated in various financing transactions such as project financing and general corporate financing. The firm also advised on restructuring deals. Overall, it mostly represented lenders in the energy, real estate, hospitality and aviation sectors in cross-border and local deals.
In capital markets the firm advised issuers, arrangers and initial purchasers in corporate bond issuances as well as sustainable bond issuances. The firm was involved in conventional and renewable energy transactions and participated in a high profile sovereign bond issuance.
In M&A the firm advised buyers and sellers, mainly in the energy and telecommunications sectors, on multiple cross-border acquisitions.
In projects the firm is advising on ongoing projects in infrastructure, telecommunications and energy.
In restructuring the firm advised on restructuring deals and corporate bond issuances intended to settle company debts.
In January of 2021, Partner Alejandro Ferrer rejoined the firm after serving as Secretary of State for the Republic of Panama.
Deal highlights: 32nd edition (2022/2023)
Aeropuerto Internacional de Tocumen $1.85 billion bond issuance
Bahía Las Minas $175 million bond issuance
Bajo de Mina Hydroelectric 115MW power plant
Banco General $400 million bond issuance
Cable & Wireless Panamá $200 million acquisition of Claro Panamá
Evolution Hotel $40 million restructuring
Global Bank Corporation $200 million financing
Island Power $22.5 million project financing