US$366 million financing by Banco Continental to AES Changuinola for the construction of a hydroelectric generating facility

Arias, Fábrega & Fábrega acted as counsel to Banco Continental de Panama and other lenders in connection with a syndicated loan for US$366 million to AES Changuinola to finance the construction of a 223 MW hydroelectric generating facility in Bocas del Toro, Republic of Panama. 

As counsel to the lenders, the firm was responsible for creating the structure of the deal, drafting loan documents, and advising lenders on all issues of Panamanian law. 

This was the first project in a National Park under a concession from the National Environment Authority (ANAM). Several environmental issues were sorted out in the process, including relocation of indigenous families.