Arias, Fábrega & Fábrega has advised Banco General S.A., as arranger, in connection with the public offering of up to US$200 million of registered corporate bonds of Cable Onda, S.A., Panama’s leading locally owned full service telecom provider.

This public offering was guaranteed by the totality of the shares held through a guarantee trust agreement, which contained a highly complex structure protecting both shareholders in events of default.

ARIFA also advised Banco General in connection with the first public bond issuance by Cable Onda, S.A., in 2010.