Banking & Finance
Latin America Guide 2025 : Panama
Band 1
About
Provided by Arias, Fábrega & Fábrega
Representing foreign financial institutions making cross-border loans to borrowers in Panama
With continuous years of healthy economic growth and an extremely well regulated banking centre, Panama has become a real regional player in Central America, the Caribbean and perhaps the northern of South America, and a great place for Latin American banks to set up their regional headquarters, producing a lot of work in the areas in which we have significant expertise and market share like bank financing, both in the public and private sectors.
ARIFA lawyers frequently participate in government and industry committees set up to draft or revise banking laws and regulations or attend to issues pertaining to the industry.
We have represented diverse international Banks that have entered into credit facilities with Panamanian banks.
Recent work highlights:
- Inversiones Atlántida's acquisition of Pacific Bank
- US$2 billion multi-facility transaction for Phoenix Tower International
- Banco Itaú Unibanco's acquisition of a 30% stake in Uruguayan fintechs Prex and Paigo
- Hotel La Compañía, a one-of-a-kind project aimed to support the revitalization and economic growth of Panama city’s historic district
- Initial purchasers in a US$1.38 billion Senior Secured Notes by AES Panama.
- McDermott International's restructuring of US$4.6 billion of funded debt under the protection of United States Chapter 11 bankruptcy proceedings.
Chambers Review
Arias, Fábrega & Fábrega advises on a plethora of banking and finance matters in Panama. The team demonstrates expert capabilities handling both regulatory and transactional matters for international financial institutions, including sector-specific M&A. The department routinely assists lead arrangers with syndicated financing structures, both secured and unsecured. The firm's expertise encompasses corporate, acquisition and project finance mandates, with significant exposure to cross-border transactions. Arias, Fábrega & Fábrega also has experience advising on aircraft financing and leasing issues.
Work Highlights
- Arias, Fábrega & Fábrega's legal team has advised Banesco in terms of deposits in connection with a ten-year USD90 million senior secured term loan.
Strengths
Provided by Chambers
"Arias, Fábrega & Fábrega's lawyers show lots of professionalism. They guide us in the best manner, so that operations are carried out in an optimal way."
"Arias, Fábrega & Fábrega has extensive knowledge in financial matters and interact very well with firms in other jurisdictions. The team is proactive and creative."
"Arias, Fábrega & Fábrega's lawyers show lots of professionalism. They guide us in the best manner, so that operations are carried out in an optimal way."
"Arias, Fábrega & Fábrega has extensive knowledge in financial matters and interact very well with firms in other jurisdictions. The team is proactive and creative."
Notable Practitioners
Eminent practitioner Ricardo Arango boasts extensive experience representing notable Panamanian and international clients on their banking and finance mandates. Clients also benefit from his strong practice in the capital markets arena.
"Ricardo Arango is excellent. He has great command of the nuances of Panama's legal field and is very helpful in guiding the client."
Pre-eminent partner Estif Aparicio continues to offer a market-leading practice assisting clients with project finance, as well as with the acquisition and divestiture of banking assets. He is held in the highest esteem by interviewees in Panama.
"Estif Aparicio guides us through Panamanian law and regulations, showing us how to deal with situations."
"Estif Aparicio exhibits an excellent level of professionalism and attention to detail."
Cedric Kinschots joins the ranking as an associate-to-watch, following praise by clients for his advise on financial regulations in Panama and structured deals.
"Cedric Kinschots does a fantastic job and has deep knowledge on how the Panamanian government works."
Ranked Lawyers at
Arias, Fábrega & Fábrega
Panama
Members
Provided by Arias, Fábrega & Fábrega
Ana Isabel Quijano
Andres Rubinoff
Cedric Kinschots
Daniela Delvalle
Donald P. Canavaggio
Head of Department
Fernando Arias F
Javier Yap Endara
Clients
Provided by Arias, Fábrega & Fábrega
BNP Paribas
Banco General
Banco Latinoamericano de Comercio Exterior, BLADEX
Bancolombia
Bank of America Merrill Lynch
CABEI
Citibank
Credit Suisse
Deutsche Bank
JPMorgan Chase
Standard Chartered Bank
The International Monetary Fund
UBS
Wells Fargo/Wachovia
Industries
Provided by Arias, Fábrega & Fábrega
Banks
Energy
Financial Services
Food & Drink Producers
Government
Insurance
Media
Mining & Metals
Real Estate Finance
Transportation
Travel & Leisure
Utilities