Arias, Fábrega & Fábrega, advised JPMorgan Chase Bank, N.A., as sole bookrunner and lead arranger, The Bank of New York Mellon, as administrative agent, and TMF Group New York LLC, as collateral agent, among other financial institutions, in a cross-border super priority senior secured revolving credit facility granted to Foresea Group, a leading Brazilian offshore drilling group.

ARIFA’s legal team advised on the amendment and restatement of an existing naval mortgage over a Panama-flagged vessel to secure the new facility. The amended mortgage was structured to comply with Panamanian law and to effectively preserve the super priority ranking of the new facility over pre-existing obligations.

The team also worked closely with international counsel to align local security documents with the global financing terms, leading the documentation, perfection, and re-registration process before.