Arias, Fábrega & Fábrega acted as Panamanian legal counsel to Mexican oilfield services joint venture Oro Negro in connection with the restructuring of its debt.

The restructuring of Oro Negro’s debt following defaults on bond repayments in January 2016 and in October 2015, involved merging the company’s outstanding bonds due in 2019 with its 2015 bonds and various other liabilities. The bond merger means Oro Negro now has one consolidated series of bonds due in 2019 with a total principal amount of some US$940 million.