Norton Rose Fulbright closes Panama Metro Line 2 Extension securitization and bond private placement

Global Press release - Business April 6, 2021

Norton Rose Fulbright's São Paulo and New York offices recently represented UBS Securities LLC, as placement agent, and the note purchasers in connection with a securitization of Panamanian government-backed payment rights known as "CDNOs" and a private placement bond issuance for the extension of Line 2 Panama Metro. The sponsor team consisted of a consortium including FCC Construcción S.A. and CNO S.A.

The section 4(a)(2) Securities Act private placement bond financing involved a securitization of CDNOs and will be used to finance the development and construction of the extension of Line 2 of the Panama Metro.

Daniel Spencer (São Paulo) led the Norton Rose Fulbright deal team, which also included Caspar Davey and Cameron Royse (São Paulo); and Patrick Dolan and Manny Rivera (New York).