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.