Law 18 of April 23, 2015 | Bearer Shares of Panamanian Corporations
November 26, 2015
Divorce proceeding by mutual consent in the Republic of Panama, for people living abroad
November 27, 2015Quijano & Associates acted as counsel for Inmobiliaria Cervelló, S.A. In respect of the issue of corporate bonds up to the amount of us $84,500,000.00.
The issue consists of two series: a Senior Series for an amount of US$82,000,000.00 and (ii) a Subordinate Series for an amount of US$2,500,00.00.
The funds raised with the issue of these bonds shall be mainly used to finance the expansion of the chain of Riba Smith supermarkets.
Inmobiliaria Cervelló, S.A. is as corporation with shareholders who are also shareholders of the Riba Smith Group. Inmobiliaria Cervelló, S.A. is also an affiliate of Casselberry, S.A. and of Xandri, S.A. who are leasing the real estate facilities of the chain of supermarkets.
The Senior Series Bonds are secured by a trust containing real estate mortgages, the rent arising from the above-mentioned real estate facilities, as well as other rights.
Prival Bank, S.A. acted as structuring agent and Prival Trust, S.A. acted as fiduciary.
The staff of Quijano & Associates providing adviser services in this operation comprised Oliver Muñoz Esquivel and Carla Rojas-Pardini, partners in the law firm Quijano and Associates, as well as the firm’s Associate Lawyer, Ileana Céspedes.
