Clifford Chance has advised the Panamanian subsidiaries of Fortune 500 power company AES on the issuance of $1.38 billion in 10-year bonds, the largest debt issuance ever by a private entity in Central America or the Caribbean.

New York capital markets partner Jon Zonis led the cross-office, cross-practice team, which included two additional partners in New York as well as a partner in Washington, D.C., and another in Amsterdam.