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Arias Fábrega & Fábrega

Panama

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Key contacts
Partner: Ricardo M Arango
Partner: Rodrigo Cardoze
Quick facts
Number of Lawyers

51

Number of partners

25

Practitioners (worldwide)

51

Partners

26

Network Association

Lex Mundi, Interlaw, PRAC

Languages

Spanish, English

Key practice areas
Banking and finance
Capital markets
Capital markets : Debt
Capital markets : Equity
Financial and corporate
M&A
Project development
Firm overview
Arias, Fábrega & Fábrega (ARIFA) is one of Panama’s leading full-service law firms, with a history dating back to 1914.

The firm advises international financial institutions, multinational corporations, investors, and major domestic businesses on complex legal, regulatory, and transactional matters. Known for its strong cross-border capabilities, ARIFA is particularly recognised for its work in banking and finance, capital markets, M&A, infrastructure, energy, disputes, transportation, real estate, tax, intellectual property, and private client matters.

Through its multidisciplinary Corporate Counsel and 360 Legal Solutions platform, the firm provides integrated support across the full business lifecycle, from market entry and structuring to financing, expansion, regulatory compliance, and dispute resolution.
Key practice areas
  • Banking
  • Capital Markets: Debt
  • Capital Markets: Derivatives
  • Capital Markets: Equity
  • Financial Restructuring
  • Financial Services Regulatory
  • M&A
  • PPP/PFI
  • Project Bonds
  • Project Development
  • Project Finance
  • Real Estate Finance
  • Real Estate Funds
  • Restructuring and Insolvency
  • Securitisation
  • Structured Finance/Securitisation
Key Practice Contacts & Recent Matter Highlights

Practice Group: Capital Markets and Banking

Odín Guillén Leiva
M&A
oguillen@mayora-mayora.com

Cristian Stefan
M&A
cstefan@mayora-mayora.com

Iván Flores Hércules
Banking
iflores@mayora-mayora.com

Sector Expertise

  • Aviation
  • Banking
  • Consumer Goods and Services
  • Energy
  • Financial Services
  • Food and Beverage
  • Mining
  • Oil and Gas
  • Real Estate
  • Shipping
  • Tourism
  • Transport
  • Utilities

Other Offices

British Virgin Islands

John's Hole
Road Town, Tortola
P.O. Box 985
VG1110
British Virgin Islands

T: +284 393 4977

E: bvi@arifa.com

Website: https://www.arifa.com/offices/n-6/british-virgin-islands.html

Hong Kong

St. George's Building
Room 1805-6, 18th Floor
No. 2 Ice House Street
Hong Kong

T: +852 2525 3903

E: hongkong@arifa.com

Website: https://www.arifa.com/offices/n-5/hong-kong.html

Address:
ARIFA Building, 10th Floor
West Boulevard Santa Maria Business District
P.O. Box 0816-01098
Tel:+507 205 7000 Fax:+507 205 7001/02 Email:Contact Us Web Address:https://www.arifa.com
2026 Edition
Banking and finance
Tier 1
14 firms ranked
View full list

Tier 1

Alemán Cordero Galindo & Lee
9 practice areas
View full profile
Arias Fábrega & Fábrega
7 practice areas
View full profile
Morgan & Morgan
8 practice areas
View profile

Tier 2

Alfaro Ferrer & Ramírez
7 practice areas
View profile
Arias
5 practice areas
View full profile
Galindo Arias & López
8 practice areas
View profile
Icaza González-Ruiz & Alemán
7 practice areas
View profile

Tier 3

Anzola Robles & Asociados
5 practice areas
View profile
Dentons Muñoz
3 practice areas
View profile

Tier 4

Lovill
3 practice areas
View profile
Pardini & Asociados
3 practice areas
View profile
Virtù Atelier Legal
5 practice areas
View profile

Notable

Ivette Martinez | Attorney-at-Law
2 practice areas
View profile
Sigma
4 practice areas
View profile
Capital markets
Tier 1
7 firms ranked
View full list

Tier 1

Alemán Cordero Galindo & Lee
9 practice areas
View full profile
Arias Fábrega & Fábrega
7 practice areas
View full profile
Galindo Arias & López
8 practice areas
View profile
Morgan & Morgan
8 practice areas
View profile

Tier 2

Quijano & Associates
5 practice areas
View full profile
Virtù Atelier Legal
5 practice areas
View profile

Notable

Sigma
4 practice areas
View profile
M&A
Tier 1
15 firms ranked
View full list

Tier 1

Alemán Cordero Galindo & Lee
9 practice areas
View full profile
Arias Fábrega & Fábrega
7 practice areas
View full profile
Galindo Arias & López
8 practice areas
View profile
Morgan & Morgan
8 practice areas
View profile

Tier 2

Alfaro Ferrer & Ramírez
7 practice areas
View profile
Icaza González-Ruiz & Alemán
7 practice areas
View profile

Tier 3

Anzola Robles & Asociados
5 practice areas
View profile
Arias
5 practice areas
View full profile
Fabrega Molino
3 practice areas
View profile
Lovill
3 practice areas
View profile

Tier 4

Patton Moreno & Asvat
3 practice areas
View profile
Quijano & Associates
5 practice areas
View full profile

Notable

Delvalle Escalona Levy Corró
3 practice areas
View profile
EY Law
2 practice areas
View full profile
Sigma
4 practice areas
View profile
Project development
Tier 2
11 firms ranked
View full list

Tier 1

Alemán Cordero Galindo & Lee
9 practice areas
View full profile
Galindo Arias & López
8 practice areas
View profile
Morgan & Morgan
8 practice areas
View profile

Tier 2

Anzola Robles & Asociados
5 practice areas
View profile
Arias Fábrega & Fábrega
7 practice areas
View full profile
Dentons Muñoz
3 practice areas
View profile
Icaza González-Ruiz & Alemán
7 practice areas
View profile

Notable

Alfaro Ferrer & Ramírez
7 practice areas
View profile
Arias
5 practice areas
View full profile
Central Law Panama
2 practice areas
View profile
Virtù Atelier Legal
5 practice areas
View profile
Linked Reviews
Financial and corporate

Arias Fábrega & Fábrega is a full-service firm founded in 1914 in Panama City. The firm now also has offices in London, Hong Kong, British Virgin Islands, Belize and Uruguay. The firm advises on some of the largest and most complex lending transactions, bond issuances and acquisitions involving Panamanian and international companies. 

 

Highlights 

ARIFA advised on landmark transactions in Panama during 2024. The firm represented Bladex in closing its largest-ever syndicated loan facility—a transaction led by SMBC and attracting participation from 33 financial institutions across Asia, Europe, and the Americas. This deal diversifies Bladex’s funding structure and strengthens its position in regional trade finance. 

Additionally, ARIFA advised Hotel La Compañía Group on acquiring Hotel Los Mandarinos and La Casa de Lourdes in El Valle de Antón, a complex hospitality transaction involving multiple property acquisitions, corporate restructuring, and innovative financing arrangements. The project benefits from tourism incentives under Law 80 and marks a significant step in expanding Panama’s luxury hospitality sector, reinforcing ARIFA’s expertise in cross-border finance and real estate. 

 

Key clients 

Banco General, Banco Latinoamericano de Comercio Exterior, BTG Pactual, Citibank, Corporación Interamericana para el Financiamiento de Infraestructura, Grupo Assa, Grupo Terra Energía, Hotel La Compañía Group, Moody’s and Swixx Biopharma 

 

Testimonials 

"Arias Fábrega & Fábrega was very responsive (even considering the time difference) and diligent" (Banking and Finance)  

10 results10 results
Deal Highlights
13 results13 results
Deal Name Deal Date Firm Name Jurisdiction Deal Type Lawyer Names Client Names Client Role
Royal Group - M&A
2022-12-01
Arias Fábrega & Fábrega
Panama
M&A
Rodrigo Cardoze
Royal Group
Acquirer
Bladex - Banco Latinoamericano de Comercio Exterior - Bond issue
2023-03-28
Arias Fábrega & Fábrega
Panama
Bond issue
Fernando Arias F., Donald P. Canavaggio, Ana I. Quijano
Bladex - Banco Latinoamericano de Comercio Exterior
Issuer
Capital Bank, Inc. - M&A
2022-12-06
Arias Fábrega & Fábrega
Panama
M&A
Ricardo M. Arango, Andrés N. Rubinoff, Fernando Arias F., Ana I. Quijano, Isabella de la Guardia
Capital Bank, Inc.
Seller
Inversiones Atlántida, S.A. - M&A
2022-12-01
Arias Fábrega & Fábrega
Panama
M&A
Estif Aparicio, Fernando Arias F., Ana I. Quijano.
Inversiones Atlántida, S.A.
Acquirer
Capital Bank, Inc. - M&A
2022-12-06
Arias Fábrega & Fábrega
Panama
M&A
Andrés N. Rubinoff, Fernando Arias F., Ana I. Quijano
Capital Bank, Inc.
Seller
International Meal Company Panama, S.A. - M&A
2022-12-01
Arias Fábrega & Fábrega
Panama
M&A
Estif Aparicio, Fernando Arias F., Daniela Delvalle
International Meal Company Panama, S.A.
Seller
Banco Itaú Unibanco - M&A
2022-05-13
Arias Fábrega & Fábrega
Panama
M&A
Fernando Arias F.
Banco Itaú Unibanco
Acquirer
PayJoy Inc. - M&A
2022-12-10
Arias Fábrega & Fábrega
Panama
M&A
Andrés Rubinoff
PayJoy Inc.
Acquirer
Stonepeak Infrastructure Partners - M&A
2022-08-02
Arias Fábrega & Fábrega
Panama
M&A
Fernando Arias F.
Stonepeak Infrastructure Partners
Acquirer
LDM Servicios Digitales (Mediam Group) - M&A
2022-07-22
Arias Fábrega & Fábrega
Panama
M&A
Andrés N. Rubinoff, Javier Yap Endara, Donald P. Canavaggio, María Cristina Guardia
LDM Servicios Digitales (Mediam Group)
Seller
A&M Capital Europe - M&A
2022-01-21
Arias Fábrega & Fábrega
Panama
M&A
Estif Aparicio, Fernando Arias F., Vivian Holness
A&M Capital Europe
Acquirer
Grupo Magna (Magna Motors) - M&A
2022-08-02
Arias Fábrega & Fábrega
Panama
M&A
Andrés Rubinoff, Javier Yap Endara
Grupo Magna (Magna Motors)
Acquirer
Wrist Ship Supply - M&A
2022-02-10
Arias Fábrega & Fábrega
Panama
M&A
Andrés N. Rubinoff, Pilar Castillo, Donald P. Canavaggio, Jazmín Solís
Wrist Ship Supply
Acquirer
IFLR1000
Arias Fábrega & Fábrega partner Estif Aparicio talks to Rani Mehta about IDB's $1 billion bond issue in Panama
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IFLR1000 Sponsored

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