Arias, Fábrega & Fábrega acted as Panamanian transaction counsel in a US$495 million platform financing. The firm represented (i) Corporativo Grupo R, S.A. de C.V. of Mexico; (ii) a group of banks and lenders led by BBVA Bancomer, S.A., Institución de Banca Múltiple, Grupo Financiero BBVA Bancomer, which extended credit facilities of up to US$225 million (the bank financing); and (iii) Jefferies & Company, Inc. and BBVA Securities Inc., which acted as initial purchasers of US$270 million notes (the “notes financing”)in the financing of the oil drilling rig Centenario GR (ex Petrorig III), registered in Panama. 

The bank financing is secured by a first mortgage on the Centenario GR, with the note financing secured by a second mortgage on therig. 

ARIFA assisted the parties in the registration of the platform while it was under construction in Singapore, under a special registry in Panama for vessels under construction.  ARIFA also participated in the registration of the two mortgages while the platform was under construction, and oversaw the delivery of the platform.