Arias, Fábrega & Fábrega acted as counsel to Banco Latinoamericano de Exportaciones (NYSE: BLX) in connection with the issuance of US$300 million of unsecured corporate bonds in the Peruvian market. 

This was the first time that a Panamanian bank registered as a foreign issuer of debt with the Peruvian regulators. Although the bonds were offered in Peru, the terms of the bonds were subject to Panamanian law.