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Key contacts
Partner: Maria Cristina Fábrega
Quick facts
Number of lawyers

12

Number of partners

3

Network memberships

ASIPI, INTA, IBA, PRAC, NYSBA, AIPPI, WLG, AZFA, FBA, ALAF

Languages

Spanish, English, Portuguese

Key practice areas
Banking and finance
Financial and corporate
M&A
Energy and infrastructure
Project development
Firm overview

Arias is the leading global business law firm in Central America and the firm of choice in the region. The firm stands out for providing innovative and effective solutions that help clients achieve their business goals, while enjoying the benefits of working with an integrated firm, with presence in six countries through seven offices, 41 partners, and 130 highly trained and experienced attorneys and offices in Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica and Panama.

Since 1942, Arias has been setting the standards in the region by combining its global reach with local expertise, and providing a visionary outlook on the world’s business environment.

Our team: Among our staff, we have attorneys with many years of experience in several practice areas combined with young lawyers. This means our firm is constantly innovating and adapting to the needs of today’s world, which ensures we are able to offer our clients the best legal talent in the region.

Areas of practice: Arias is a full-service firm, providing advice in over 35 practice areas, with renowned specialists in each jurisdiction. Some of the firm’s main practice areas include: corporate, antitrust, mergers and acquisitions, tax, arbitration and litigation, compliance, banking and finance, intellectual property, labor law, energy, oil and gas, real estate, immigration, and general counsel services, among others.

Our focus: We make things happen. We provide creative and innovative legal solutions that add value to our clients, taking the time to know and understand their business goals, while always focused on providing reliable and accurate legal services, with their best interests in mind.

International reach: The firm advises on local and cross-border transactions, assisting some of the major international corporations doing business in the region, and also providing legal support to local clients going abroad.

Recognitions and awards: Consistently, we have been honored with important recognitions and awards such as “Firm of the Year in Central America”, “Firm of the year” in the countries we operate, “Client Service Award”, “Best Regional Firm for Women in Business Law”, “Deal of the Year”, among other relevant regional and local awards for the firm and our members.

Equal opportunities: We promote diversity within the firm, professional growth is based on each individual’s merit regardless of gender or ethnics.

47% of our partners are women
48% of our associates are women
57% of our management positions are held by women
100% of our managing partners are women

2,000 Pro-bono hours per year: Corporate social responsibility and Pro-bono work have always been an important part of our DNA. We believe that it is everyone’s responsibility to inspire and generate positive changes in our environment in order to achieve and ensure a better future for the next generations.

Key transactional practices
  • Asset finance
  • Banking
  • Competition
  • Capital markets: Debt
  • Financial restructuring
  • Financial services regulatory
  • M&A
  • PPP/PFI
  • Private equity
  • Project development
  • Project finance
  • Real estate finance
  • Restructuring and insolvency
  • Structured finance/securitisation
  • Securitisation
  • Trade finance
Key practice contacts and recent transactional highlights

Mergers & Acquisitions and Banking

María Cristina Fábrega
mariacristina.fabrega@ariaslaw.com

Yuri Moreno
yuri.moreno@ariaslaw.com

Arias expert´s team advised Banco Santander in the acquisition financing by H.I.G., Capital of several entities engaged in the logistics business in Latin America. Banco Santander and Banco Latinoamericano de Comercio Exterior (Bladex) granted a loan of up to $54,375,000.00, in favour of RANSA CORP S.L., a sociedad limitada organized under the laws of Spain as the Borrower, to acquire a group of corporations in the logistics business in Latin America, free of any material liability or contingency and repayment of financial debt. As a part of the transaction, some subsidiaries, such as the one in Mexico, Colombia, and Costa Rica, became Guarantors of the Loan. This financing was part of a complex acquisition structure that involved various stakeholders, parties, and jurisdictions.
Univar Solutions Inc, is a global chemical and chemical ingredients distributor interested in acquiring regional Chemical company Chemsol. Chemsol's main companies are in Panama and have affiliates in Costa Rica, El Salvador, Guatemala and Honduras. The M&A Arias regional team assisted the Buyer with identifying risks and coordinating corporate, labor, and tax matters essential to the transaction. Also, with antitrust assessments. The deal consisted of a share purchase of the entire company including the affiliate target companies. Arias led the Panamanian part of this work. RelaDyne, Inc., USA's established leader in lubricant, bulk oil, and fuel distributor, acquired Lucalza, a company with operations in Central America, the Caribbean and Mexico, and one of Chevron's principal distributors. The acquisition of Lucalza represents the entry of RelaDyne into new markets. Arias acted as regional counsel and led the coordination of due diligence and transactional counselling and local support in all six jurisdictions we operate, including collaboration with Garrigues Mexico, Myers Fletcher Gordon in Jamaica, and Pellerano Nadal in the Dominican Republic.
Arias adviced RelaDyne Inc. in conducting the due diligence to Lucalza Holdings, Inc. and its subsidiaries, complete due diligence report and SPA.
The regional team of expert attorneys at Arias acted as legal advisor to Hoshizaki during the acquisition of a 25% stake in Fogel. This transaction is a significant achievement for all stakeholders involved, especially for Hoshizaki, as it marks the beginning of its business growth strategy. ARIAS served as the lead counsel for Hoshizaki, offering legal guidance in Guatemala, El Salvador, Honduras, Nicaragua, and Panama. Our team ensured the protection of Hoshizaki's rights during the shares acquisition process.
Arias Panama represented PRB in the upsize of its existing credit facility with Goldman Sachs, for US$20 million dollar. Arias Panama assisted PRB in negotiating and formalization of the restructuring the local collateral.
We have acted as counsel to Corporación Interamericana para el Financiamiento de Infraestructura, S.A., as borrower (the “Borrower”) existing under the laws of the Republic of Panama, in a Loan Agreement with CARGILL FINANCIAL SERVICES INTERNATIONAL, INC., a Delaware corporation
Arias represented PRB as coffee franchisee in the sale of its business in Panama to a Jamaican counterparty, for US$8,000,000. Arias Panama assisted PRB in drafting the ancillary documents of the SPA, the applicable authorizations, among other legal paperwork.

Sector expertise
  • Accounting
  • Agriculture
  • Automotive
  • Aviation
  • Banking
  • Construction and materials
  • Consumer goods and services
  • Energy
  • Financial services
  • Fisheries and aquaculture
  • Food and beverage
  • Forestry
  • Gaming
  • Government and public policy
  • Healthcare
  • Industrials
  • Insurance
  • Investment management
  • Media
  • Mining
  • Natural resources
  • Oil and gas
  • Pharm and life sciences
  • Real estate
  • Shipping
  • Social infrastructure
  • Tech and telecoms
  • Tourism
  • Transport
  • Utilities
Other offices

ARIAS GUATEMALA:
6ª. Avenida 12-24 zona 10, Edificio HQ Fontabella, Nivel 8,
Ciudad de Guatemala, Guatemala. C. A.
T: +(502) 22401600
F: +(502) 22401600
E: contact.guatemala@ariaslaw.com
W: www.ariaslaw.com

ARIAS EL SALVADOR
Calle La Mascota #533,
Colonia San Benito. San Salvador,
El Salvador, C. A.
T:+(503) 22570900
F:+(503) 22570901
E: contact.elsalvador@ariaslaw.com
W: www.ariaslaw.com

ARIAS HONDURAS:
Centro Comercial El Dorado 6° Piso,
Boulevard Morazán. Tegucigalpa,
Honduras, C. A.
T: +(504) 22214505
F: +(504) 22214522
E: contact.honduras@ariaslaw.com
W: www.ariaslaw.com

ARIAS NICARAGUA:
Pista Jean Paul Genie,
Edificio Escala, 3er piso,
Managua, Nicaragua, C. A.
T+(505) 22981360
E: contact.nicaragua@ariaslaw.com
w: www.ariaslaw.com

ARIAS COSTA RICA:
CLS Business Center, 9th floor.
Sabana, San José,
Costa Rica, C.A.
T: +(506) 40362800
F: +(506) 40361268
E: contact.costarica@ariaslaw.com
W: www.ariaslaw.com

Address:
The Towers Business Plaza, 3rd Floor, Calle 50 & 66
San Francisco
Panama City 01010
Tel:+5072821400 Email:Contact Us Web Address:http://ariaslaw.com
Rankings published in 2026
Banking and finance
Tier 2
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
M&A
Tier 3
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
Notable
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

Founded in 1942 in El Salvador by Dr. Francisco Armando Arias, Arias is a law firm rooted in humanistic principles and values of honesty, integrity, and professionalism. Renowned for its banking and finance expertise, the firm also excels in M&A and project development. Arias represents strategic buyers and sellers across various industries in acquisitions and restructurings, as well as borrowers and lenders in banking matters, including loan and credit agreements. Committed to quality legal services, Arias strives to innovate and lead in the legal and business world. 

 

Highlights

Arias advised on complex cross-border financing and restructuring transactions in 2024. The firm acted as lead local counsel to DEG across multiple secured loan facilities, including a senior financing in Nicaragua and a pledge over a Panamanian deposit certificate for a syndicated structure involving European institutional investors. These deals required intricate coordination of multi-jurisdictional laws, enforceability of foreign security instruments, and recognition of German choice-of-law provisions. Additionally, Arias represented Procaps in its global debt restructuring, managing Panamanian collateral implementation—including share pledges, real estate mortgages, and IP security—under strict timelines. Both transactions underscore Arias’ expertise in asset finance and multi-country deal execution, delivering innovative solutions for international lenders and regional corporates. 

 

Key clients 

Blue Orchard, DEG, Hencorp, Leaders Global Solutions and Procaps 

 

 

 

2 results2 results
Deal Highlights
4 results4 results
Deal Name Deal Date Firm Name Jurisdiction Deal Type Lawyer Names Client Names Client Role
Banco Latinoamericano De Comercio Exterior SA - Bladex - Bond Issue
2021-01-01
Arias
Panama
Bond issue
Banco Latinoamericano De Comercio Exterior SA - Bladex
Issuer
Banco Latinoamericano De Comercio Exterior SA - Bladex - Bond Issue
2021-03-01
Arias
Panama
Bond issue
Banco Latinoamericano De Comercio Exterior SA - Bladex
Issuer
Global Bank Corp (Panama) - Bond Issue
2021-01-01
Arias
Panama
Bond issue
Citigroup, JP Morgan Chase
Underwriter
Giant Bridge - Restructuring
2020-01-01
Arias
Panama
Restructuring
Yuri Moreno
Giant Bridge
Debtor
IFLR1000
Firm adds finance capacity in Guatemala City
IFLR1000
Latin America correspondent Rani Mehta looks at the trend of law firm regionalisation in Central America
IFLR1000
Muñoz Global partners split from Arias & Muñoz and join international firm
IFLR1000
Carlos Camacho and Carlos Ubico of Arias & Muñoz in Costa Rica look at the possibilities for using PPPs for transport infrastructure
IFLR1000
Andrey Dorado and Tracy Varela of Arias & Muñoz in San José consider the ten things you need to know about M&A in Costa Rica
IFLR1000
Firm makes second lateral hire of the year
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