Arias, Fábrega & Fábrega acted as counsel to Deutsche Bank Securities Inc. in connection with the issuance of US$80 million Senior Unsecured Notes with maturity date in December 2027 (15 years) by ENSA.

ENSA distributes electricity to clients in Eastern Panama, Colón, Darién, the Comarca Guna Yala and certain islands in the Bay of Panama (Pacific). The Panamanian government owns a 49% stake in ENSA.