Arias, Fábrega & Fábrega acted as counsel to Banco Latinoamericano de Comercio Exterior, S.A. (Bladex) in conection with a US$223 million secured acquisition finance facility for Panamanian-based Promerica Financial Corporation (PFC).

Bladex acted as Joint Lead Arranger and Bookrunner, along with Credit Suisse and Deutsche Bank. Bladex is also the Administrative Agent and the Collateral Agent under the Facility.

PFC is the holding company of Grupo Promerica, a group of 9 banks with operations in Central America, Dominican Republic, Ecuador and Cayman Islands. Proceeds of the loan were used to support PFC's acquisition of Citibank's consumer credit card and consumer retail banking businesses in Guatemala. With this acquisition, Grupo Promerica will strengthen its position in Guatemala and the Centra American region.