Arias, Fábrega & Fábrega acted as Panamanian counsel to DvB Bank AG and Natixis in connection with the US$93 million senior secured term loan facility to Ingatestone Holdings Inc., as borrower, a subsidiary of UP Offshore (Bahamas) Ltd., in order to finance the construction of four (4) newbuildings. The obligations of the borrower are secured by first naval mortgages on Panamanian registered vessels belonging to affiliated companies.