US$400 million unsecured credit facility to ETESA

Arias, Fábrega & Fábrega represented Citibank, N.A., as Initial Lender and Arranger, in connection with a US$400 million unsecured credit facility to Empresa de Transmisión Eléctrica S.A. (ETESA), the State-owned electricity transmission company, in connection with the refinancing of certain debt incurred by ETESA for the construction of the Third High-voltage Transmission line from Chiriquí to Panama.