Banco General granted $1.54 million in financing

Posted Monday, October 25th 2021
Banco General granted $1.54 million in financing

Banco General

Panama's largest private equity bank has granted financing to Grupo Polibio and Maquinaria Especial.

In order to achieve this important operation, Banco General de Panamá received specialized advice to obtain the cancellation of guarantees granted by the equipment of the borrowers, as well as the assignment of certain collection rights on leases. 

In addition, as part of the financing for a total of $1.54 million, a mortgage was granted to Banco General to guarantee the borrowers' obligations. 

Gonzalez Calvillo represented Banco General with the participation of partner Bernardo Reyes Retana and associates Pedro Buchanan and Fernando Blanco. Matsui & Salem Abogados advised the team of the borrowers, Maquinaria Especial and Polibio, through attorneys José Salem and Guadalupe Montes.

Founded in 1955, Banco General was the first private bank with Panamanian capital. It is currently the largest private bank in Panama, with 76 branches, a head office in Costa Rica and representative offices in Mexico, Guatemala, El Salvador, Colombia and Peru.