Arias, Fábrega & Fábrega acted as counsel to Bayerische Hypo- und Vereinsbank AG and BNP Paribas Securities Corp, as joint lead arrangers and joint bookrunners, in connection with a US$160 million senior term loan to Banco General, S.A., the largest Panamanian bank. 

Bayerische Hypo- und Vereinsbank AG also acted as administrative agent.  Twelve international and domestic banking institutions participated as members of the syndicate of lenders.