Arias, Fábrega & Fábrega acted as local legal counsel to Overseas Private Investment Corporation (OPIC) and Citibank, N.A., as lenders, in connection with the US$225 million financing of the BAC/Credomatic Group in Central America and Panama to support the Group’s small and medium size enterprises and low and middle income housing lending programs in the region.

On the Panamanian front, ARIFA assisted OPIC and Citibank, N.A. in the drafting and execution of a US$8.4 million loan to BAC International Bank, Inc. secured by a pool of mortgages transferred to a Collateral Trust and the securitization of the borrower's obligations in the forementioned agreement. The firm prepared all financing documentation for Panama, advised and assisted in the creation of the deal structure and drafted a guarantee trust and perfected all security interests in Panama.

The deal, which required over a year to put together, was a truly pan-Central America complex, secured financing, demanding detailed coordination among counsels in all six Central America jurisdictions to deal with different bank regulation, security interest, bankruptcy, taxation and other issues.