Noted for providing a full service to a broad client base including national and international banks and financial institutions, Alemán, Cordero, Galindo & Lee is recognised for its track record acting in large financing deals, covering leveraged and acquisition finance, project finance and asset finance. In cross-border transactions, the team has been active in overseeing transactions governed by New York law, with Patricia Cordero having advised Bancolombia as lead arranger for thirteen lenders on a high-value syndicated loan. Rita de la Guardia is a key contact in the firm's capital markets practice, and associate Karla Rivera has actively supported the head of the practice Arturo Gerbaud in domestic lending deals, acting on the side of leading Panamanian banks.

Arias, Fábrega & Fábrega advises banks and financial institutions on a wide range of cross-border matters, with lawyers experienced in advising on banking laws and regulations, as well as the business issues arising from the banking industry. Practitioners have also participated in government and industry committees set up to draft and revise banking laws and regulations. Head of the practice Estif Aparicio has vast experience in representing local and international lenders in public infrastructure projects undertaken by the Panamanian government, as well as being skilled in deal management and setting up a variety of structures, including syndicated and bilateral financing. Fernando Arias F is active in representing clients in cross-border and domestic financing transactions, while associate Cedric Kinschots has advised public and private clients, as well as leading and international financial institutions. Ricardo Arango is also a key contact.

Alfaro, Ferrer & Ramírez covers a full spectrum of banking services, with specialists skilled in licensing processes, day-to-day regulatory and legal needs, and local and international financial transactions. The team benefits from its close collaboration with the firm’s other departments, particularly the corporate and M&A team, allowing it to provide a full service in project financing and a variety of loan and capital deals within Panama. Roberto Harrington‘s expertise spans across project finance operations and sophisticated banking transactions, while Luis Lopez Alfaro combines his expertise in corporate law and capital markets transactions to aid in navigating complex issues which arise in the banking and insurance sectors. Alfredo Ramírez Jr maintains a varied practice, drawing on his experience in dispute resolution and capital markets to help clients navigate legal and business challenges, and María Alejandra Cargiulo is experienced in handling a broad spectrum of financial and securities market matters for a large client base including domestic and international banks, as well as investment funds and intermediaries. All four partners mentioned lead the practice, and Annette Bárcenas is also a key name.

The team at Galindo, Arias & López draws upon its ability to provide an ‘efficient and responsive service’ to a broad roster of domestic and international clients. Among its clients is the supermarket chain Grupo Callejas in El Salvador, for which Jose Luis Sosa, alongside Daniel Sessa, advised on the financing negotiation of a syndicated loan (governed by Panamanian law) led through various banks in Panama, for the acquisition of a controlling stake in Grupo Éxito through a public tender offer on the Colombian Stock Exchange. Roberto De Araujo López heads the department and brings his experience working in-house at leading Panamanian banks to advise on the gamut of banking services. Cristina Lewis leads the aviation and regulatory practice groups and specialises in aviation finance, having advised a diverse range of clients including airlines and ground handling companies on the purchase, leasing and financing of aircraft and equipment, as well as the establishment of operations in Panama. Diego Herrera is experienced in advising clients on financial reorganisations and global transactions.

With experience covering financing transactions and regulatory matters for creditors, agencies and debtors, Morgan & Morgan is experienced in the gamut of legal services in this space, having represented clients through drafting loan and security documentation to managing all aspects relating to day-to-day financial and banking regulatory matters. Another key aspect of the practice involves its experience in handling transactions for public entities, with one key matter involving representing multilateral institutions in connection with the financing of the expansion of the Panama Canal. Kharla Aizpurúa and Inocencio Galindo jointly lead the practice, with Aizpurúa active in advising clients on domestic and cross-border financing transactions, and Galindo recognised for his advice on the development and financing of infrastructure projects. Francisco Arias combines his expertise in real estate and corporate law to aid clients in matters which intersect with the overall business needs that arise during a banking matter, and Ramón Varela advises investors and borrowers on syndicated lending and guaranteed loan facilities.

Icaza, González-Ruiz & Alemán advises on the full spectrum of banking and finance-related matters, including assisting lenders involved in Panama’s first ever Public-Private Partnership Project in infrastructure, owing to the team's ability to navigate complex structures. The team is adept in guiding financial institutions and corporate clients through every phase of project structuring and financing, with Gabriel González-Ruiz sought after for his project finance expertise. Michelle O de de la Guardia and Luis Chalhoub are also key names; all three partners mentioned jointly lead the practice.

LOVILL offers a comprehensive portfolio of services for domestic and international clients across a range of financial transactions, inter-creditor agreements and parent guarantee agreements, as well as matters related to the financing of public infrastructure related to Panamanian corporate vehicles. Elizabeth Heurtematte leads the practice and brings her prior experience as an independent director at Banco Lafise Panama when assisting in the business and regulatory aspects of finance transactions. Alejandro Fung is active across a range of financial deals and is a key contact.

Led by María Cristina Fábrega, who is active in advising clients in both local and regional transactions, Arias is experienced in providing regulatory and legal support in matters related to project finance and capital markets deals. The firm benefits from its network of offices across the globe and is able to aid in cross-border matters which require insight in the Panamanian market. Associate Alexandra Lasso and legal tax director Ivelisse Bonilla are key contacts.

Fabrega Molino acts for a range of local and international banks operating in Panama across a range of financial transactions, as well as representing their interests as agents, arrangers, lenders and corporate borrowers. On the regulatory side, the practice is skilled in advising on the content and applicability of new regulations affecting the banking and financial space. Denisse Correa leads the practice and is focused on advising, structuring, drafting and reviewing agreements, as well as offering consulting services to local and international financial institutions. Juan Pablo Fábrega represents clients across the Americas and Europe in banking law matters, and serves as a board member of various banking and financial entities in Panama. Senior associate Pablo Martinelli is also a key contact.

With expertise in acting for a broad range of domestic and international clients, from small private companies to large publicly listed multinationals, Pardini & Asociados provides a full range of services. Recent work ranges from advising on the incorporation and establishment of banks to securities, financing and leasing. The firm combines its experience in shipping matters to advise clients on financing and ship mortgages, and the registration of ship financing facilities in Panama involving oil tankers. Juan Francisco Pardini and Juan José Espino both lead the practice, with Espino specialising in foreign investments and Pardini active in representing a range of clients, including mining companies and airlines.

Led by Cecilio Castillero, who is active in advising Panamanian banks, boutique firm SIGMA International and Global Market Attorneys specialises in a range of transactions, including corporate and project finance, capital markets, mergers and acquisitions, and joint ventures. Associate Eric Carles brings his previous experience working as an attorney in the US, and from representing financial institutions in cross-border project financings across Africa and Latin America.

Virtù Atelier Legal provides a broad range of services, covering both regulatory and transactional matters, from the structuring of public and private securities offerings to project finance, debt restructuring and asset financing advice. The team also provides day-to-day legal support to a variety of clients including regulatory support in high-volume transactions, with Ana Lucrecia Tovar, who leads the practice, a key name on the regulatory side. Marelissa Quintero is another name to note.