Arias, Fábrega & Fábrega acted as Panamanian counsel to Citibank, N.A., as Offshore Collateral Agent, in connection with the US$902 million financing for Project Manzanillo, advising on the Panamanian-law share pledge securing the financing.

The engagement covered the pledge and collateral agent provisions under the Credit Agreement, signing and notarization mechanics, apostille requirements across jurisdictions, and closing coordination.