Arias, Fábrega & Fábrega acted as Panamanian counsel to Schahin Group, of Sao Paulo, Brazil, and its affiliates Lancer Finance Company, a special purpose vehicle organized by the Schahin Group, and Turasoria S.A., a Panamanian corporation, in the US$ 270 Million debt refinancing of the Panamanian registered drillship S.C. LANCER.

This transaction has been widely publicized as a landmark deal because it is believed to be the first-ever bond financing of a drillship in the capital markets. Nomura Securities International and Santander Investment Securities were the placement agents and initial purchasers.