Peers describe Alemán Cordero Galindo & Lee (Alcogal) as a first-rate firm that has grown considerably over the past ten years, and is "seen as a success" by many practitioners. With a balanced mix of local and international clientele, Alemán has developed one of Panama's more respected banking practices....
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Peers describe Alemán Cordero Galindo & Lee (Alcogal) as a first-rate firm that has grown considerably over the past ten years, and is "seen as a success" by many practitioners. With a balanced mix of local and international clientele, Alemán has developed one of Panama's more respected banking practices. "When we need something, they are always available," says one client.
The firm's M&A practice saw a good amount of action last year. A team led by Alejandro Ferrer counseled Ashmore Energy International as it sold its interest in Elektra Noreste (ENSA), a large Panamanian power distribution company. Additionally, the firm advised the Bank of Nova Scotia as it acquired RBC Investment (Panama) and the Panamanian commercial banking business of BNP Paribas in two different transactions.
Arturo Gerbaud de la Guardia, a former Director of the Superintendency of Banks is popular among clients: "Very knowledgeable about the banking industry and he provides very good advice to us," says one client, while another adds: "It doesn't matter when or how, we always get high quality output from Arturo."
Last year, Gerbaud advised Citibank, an onshore trustee and collateral agent, in a $50 million credit agreement between borrower Generadora del Atlantico and administrative agent Credit Suisse. Additionally, he advised Banco General as the arranger for two separate bond issuances, one valued at $50 million by Compañia Azucarera la Estrella, a Panamanian sugar refiner, and a separate $17 million issuance for Franquicias Panameñas, a fast food operator.
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