Arias, Fábrega & Fábrega acted as counsel to Banco General and Deutsche Bank as underwriters in the offering by AES Panama, Panama's largest electricity generation company based on installed capacity, of its US$300 million 6% senior note due 2022.

The notes were registered with the Superintendency of Capital Markets of Panama and listed on the Panama Stock Exchange.

The proceeds of the notes were mainly used to fund a concurrent cash tender offer for AES's US$300 million 6.35% senior notes due 2016.