Ricardo M. Arango
Partner
Panama
PH ARIFA, 10th Floor, West Boulevard Santa Maria Business District
T: +507 205 7000
F: +507 205 7001
rarango@arifa.com
Summary
Ricardo M. Arango joined the firm in 1987 and became a partner in 1995.
Mr. Arango is Head of the firm’s Capital Markets and Banking Practice Group; and
Mergers & Acquisitions Practice Group.
Mr. Arango’s practice focuses on securities regulations; banking and finance;
mergers, acquisitions and joint ventures; and taxation.
In the area of capital markets and banking, Mr. Arango regularly advises clients in
connection with medium term note programs, commercial paper programs,
syndicated term and revolving loan agreements, project and structured
financing,144-A Reg-S notes, securitizations, and initial public offerings.
Practice Areas
Banking and Finance
Mergers, Acquisitions and
Joint-Ventures
Securities Regulation
Taxation
Bar Admission
Panama, 1983
New York, 1985
Languages
Spanish, English
In the area of merger and acquisitions, he has acted as lead counsel in the largest
transactions in the country and regularly advises clients in connection with stock
purchase agreements, asset purchase agreements, and merger agreements.
Mr. Arango has been instrumental in the creation of many financial structures that
are common place in Panama today and has participated in such landmark
transactions as the Republic of Panama’s Brady Bonds offer; the first
securitizations of credit cards receivables, toll road payments, DPRs and
residential mortgages in Panama; the IPOs of Bladex, Copa and Panamerican
Beverages on the NYSE; Telefónica’s acquisition of BellSouth; the public tender
offer by Bancolombia of Banagrícola; and the merger between Banco General and
Banco Continental, resulting in Panama’s largest bank.
Mr. Arango headed the Presidential Commission that drafted Panama’s current
securities act. He also drafted the rules of operation of LatinClear, Panama’s
clearing and settlement agency.
Prior to joining the firm, Mr. Arango worked in New York.
Education
Master of Laws, Yale Law School (1985) (concentration on securities regulations and finance law), Fulbright Scholar
Ricardo M. Arango - Biography
Master of Laws, Harvard Law School (1984) (concentration on corporate law), Fulbright Scholar
Bachelor of Laws (Licenciatura en Derecho y Ciencias Políticas), sigma lambda , Panama University (1983)
Representative Transactions
2016 The Government of Panama's acquisition of Transporte Masivo de Panamá, S.A.
2015 First international offering ever issued by the Panama Canal Authority
2015 USD$350 million euro notes issued by Bladex in Luxembourg
2015 US$30 million Istmo-RE equity raise and corporate reorganization
2015 US$125 million senior notes offering by Banco Aliado
2014 SAAM merge with a Dutch counterpart to create Latin America's largest tug business
2013 HSBC’s US$ 2.2 billion sale of its assets in Panama
2013 QBE del Istmo Compañía de Reaseguros, buyout of strategic partner QBE Insurance
2012 Bancolombia 40 per cent stake acquisition in Grupo Agromercantil Holding
2012 Acquisition of Banco Trastlántico by Balboa Bank & Trust, Corp.
2012 US$220 million Southern Cross Group investment in Ultrapetrol
2012 US$500 million issuance of covered bonds by Global Bank Corporation
2012 Financing of Melones Oil Terminal
2012 US$169 million KPMC minority stake acquisition of Minera Panama
2012 Bladex's first public offer in Mexico
2012 FASA’s sale of Nissan and Infiniti dealerships to Excel Automotriz
2012 Goldman and Citigroup on debt reduction transactions for the Republic of Panama
2012 Bonlac and Pascual debt restructuring and first securities issuance in Panama
2012 US$125 million bridge financing for phase 3 of the coastal highway road reorganization program
2012 US$300 million Pacific Rubiales' debt restructuring
2011 US$110 million financing for the road reorganization project in the historic Old Panama
2011 US$115 million financing for Hospital Luis "Chicho" Fábrega
2011 Government of Panama – alternatives for creation of a sovereign wealth fund and monetization of assets
2011 US$2.25 billion Bladex's Euro Medium Term Note Program update
2011 La Hipotecaria’s US$15 million publicly registered offer of preferred shares
2011 US$32 million ConSalfa's acquisition of leading Panamanian marine contracting and engineering firm
2011 Hopsa and Schuff joint venture for steel engineering division
2011 Amendment to a credit facility between Banco General and Hoteles Decameron
2011 Assisting John Deere Mexico in its first cross-border financings of equipment
2011 US$60 million Banco General's financing of Pedregalito I and II hydroelectric projects
2011 Buy-out of majority stake in Strategic Investors Group
2011 BLADEX's US$270 million syndicated term loan facility
2011 US$20 million medium-long term facility to a Panamanian company by Unicredit
2011 Sale of all assets and liquidation of Panama fixed Income Fund
2011 US$225 million secured revolving credit facility to Kernel
2011 Acquisition of Grupo Industrias Lácteas by Coca-Cola and Coca-Cola FEMSA
2011 Acquisition of majority interest in Grupo Los Tres and subsidiaries in Central America
2011 Global Bank's first public exchange offer carried out in Panama
2011 Interbank Group acquisition of Peruvian chain of pharmacies, Inkafarma
2010 Sale of Bonlac to Casa Luker
2010 US$30 million acquisition of Colon Oil and Colon Port Terminal
2010 US$42 million loan to Consorcio Eólico Amayo
2010 LAN Airlines acquisition of AIRES Airlines
2010 US$45 million Petaquilla Minerals prepaid forward gold purchase agreement
2010 US$150 million subordinated bonds of Global Bank
2010 100 million euro Codere bond offering
2010 BNP Paribas, Panama branch asset purchase and assumption of liability agreement
Ricardo M. Arango - Biography
2010 120 million euro renewal of CODERE Senior Facilities Agreement
2010 Panama Stock Exchange and Latin Clear in a strategic reorganization
2010 US$100 million COPA Holdings secondary offering
2010 US$225 million Citibank's loan to the BAC / Credomatic Group
2010 US$95.9 million Panama's Fiduciary Trust Bonds sale
2010 US$19 million IFC investment in QBE del Istmo
2010 Reorganization and sale of Stanford Bank (Panama)
2010 US$62.2 million sale of Panama's Fiduciary Trust Bonds
2010 US$352 million Panama's Fiduciary Trust Bonds sale
2010 US$211 million Grupo Mundial Tenedora strategic alliance with Mapfre America
2010 US$450 million notes offering by Pacific Rubiales Energy Corp.
2009 US$81 million syndicated credit facility to Madden-Colon Trust
2009 HSBC Bank (Panama) historic registration of a program of Negotiable Banking Certificates in Mexico
2009 Merger between Cable Onda and Telecarrier
2009 US$1 billion bond offering by the Republic of Panama
2009 US$750 million Goldman Sachs' cross-border structuring of notes issuance by Global Crossing Limited
2009 US$100 million syndicated loan to Bladex from China Development Bank and others
2009 US$610 million Financial Stimulus Program of the government of Panama
2009 US$250 million BNP Paribas loan to Pacific Rubiales
2009 US$323 million placement of global bonds by the Republic of Panama
2009 US$6 million Grupo Bandelta's registration of preferred shares
2009 US$40 million notes issue by La Hipotecaria
2008 Stock merger between Bank of America Corporation and Merrill Lynch & Co.
2008 Productos Alimenticios Pascual acquisition of La Suprema
2008 US$170 million credit agreements with Digicel Panama
2008 US$250 million 6.5% perpetual subordinated bonds of Banco General
2008 US$130 million senior term loan to BAC International Bank
2008 US$548 million global bonds exchange offer and global bond new offer of the Republic of Panama
2008 US$160 million senior term loan to Banco General
2008 US$149 million sale by Continental Airlines of its remaining interest in Copa Holdings
2008 US$165 million syndicated loan to finance the Madden-Colon Highway
2008 US$7.5 million financing of the Macano run-of-the-river hydroelectric project
2008 US$180 million facility to Constructora Norberto Odebrecht for the construction of a new coastal road
2008 US$300 million Bijao Golf Club & Beach Resort
2007 US$100 million senior secured notes issued by the Panama Canal Railway Company
2007 US$220 million senior secured notes issued to finance the construction of the Trump Ocean Club
2007 US$160 million subordinated notes issued by the Panama branch of Banco de Crédito del Perú
2007 Strategic stock merger between Banco General and Banco Continental de Panamá
2007 US$1.5 billion acquisition of Cuscatlán by Citibank
2007 US$255 million initial public offering of shares of common stock of Intergroup Financial Services Corp.
2007 US$897.5 million public tender offer by Bancolombia for the shares of the holding company of Banco Agrícola
2007 US$300 million notes offering by Banco Latinoamericano de Exportaciones in Peru
2007 US$73 million securitization of residential mortgages for La Hipotecaria
2006 US$1.3 billion exchange offer of the Republic of Panama for new US dollar-denominated amortizing global bonds
2006 US$156 million follow-on offering of shares of stock of Copa
2006 US$100 million issue of senior notes of Elektra Noreste
2006 US$300 million senior notes issued by AES Panama
2006 US$120 million issue of subordinated notes of Banco de Credito del Perú, Panama Branch
2006 La Hipotecaria's securitization of residential mortgages
2006 US$300 million issuance by AES El Salvador Trust of senior guaranteed notes
2005 US$225 million revolving credit facility to Banco Continental de Panamá
Ricardo M. Arango - Biography
2005 Banco Cuscatlán's multi-country securitization of SWIFT remittances
2005 US$980 million exchange offer of the Republic of Panama
2005 US$150 million notes issued by Banco Continental de Panamá
2005 US$2.25 billion Banco Latinoamericano de Exportaciones' Euro medium term note program
2005 US$150 million securitization of toll road receivables of ICA Panama
2005 US$250 million global bonds of the Republic of Panama
2005 US$362 million initial public offering of shares of common stock of Copa
2004 Telefónica Móvil's acquisition of BellSouth
2004 US$600 million global bonds issued by the Republic of Panama
2004 US$125 million commercial paper program of Banco Continental de Panamá
2004 US$100 million Banco General's bond issue
2004 Republic of Panama's cash tender offer and issuance of global bonds
2004 US$30 million Banco Cuscatlan's bond issue
2003 US$147 million Banco Latinoamericano de Exportaciones' rights offering re-capitalization plan 1996
2003 US$250 million Aracruz Traiding's securitization of export receivables
Awards and Recognitions
Leading capital markets lawyer, Panama, The International Who's Who of Business Lawyers (2006-2015)
Leading banking lawyer, Panama, The International Who's Who of Business Lawyers (2009-2015)
Leading project finance lawyer, Panama, The International Who's Who of Business Lawyers (2015)
Leading M&A lawyer, Panama, The International Who's Who of Business Lawyers (2009-2015)
Leading corporate governance lawyer, Panama, The International Who's Who of Business Lawyers (2011-2015)
Leading Mining lawyer, Panama, The International Who's Who of Business Lawyers (2011-2015)
LACCA Approved Corporate/M&A private practitioner in Panama (2014-2016)
Leading banking and finance lawyer, Panama, Legal 500 Latin America (2012-2015)
Leading corporate/M&A lawyer, Panama, Legal 500 Latin America (2012-2015)
Leading banking and finance lawyer, Panama, Chambers Latin America (2009-2016)
Leading real estate lawyer, Panama, Chambers Latin America (2009-2016)
Leading corporate / M&A lawyer, Panama, Chambers Latin America (2011-2016)
Leading capital markets lawyer, Panama, Chambers Latin America (2010-2016)
Leading banking & finance lawyer, Panama, Chambers Global (2006-2015)
Corporate/commercial Star lawyer, Panama, Chambers Global (2011-2015)
LACCA Approved banking private practitioner in Panama (2015)
Leading financial and corporate lawyer, Panama, IFLR1000 (2009-2015)
Latin Legal Star by Latin Business Chronicle (2014)
LACCA Approved capital markets private practitioner (2012)
ARIFA awarded second consecutive ILO Client Choice Award (2012)
Exclusive winner of the ILO Client Choice Award Banking category for Panama (2011)
Leading corporate/commercial lawyer, Panama, Chambers Global (2006-2010)
Named "one of the country's most highly regarded corporate lawyers" by Latin Lawyer 250 (2010)
Leading capital markets lawyer, Panama, PLC Which Lawyer? (2010)
Highly recommended corporate and M&A lawyer, Panama, PLC Which Lawyer? Yearbook (2007-2009)
Capital markets Star Performer, Panama, Chambers Latin America (2009)
Recommended banking and finance lawyer, Panama, PLC Which Lawyer? (2009)
Leading corporate and commercial lawyer, Panama, IFLR1000 (2008)
"One of the best finance lawyers in the country" by LatinLawyer 250, (2008)
Leading project finance lawyer, Panama, Expert Guides (2008, 2009)
Leading structured finance and securitization lawyer, Panama, Expert Guides (2007)
Highly recommended dispute resolution lawyer, Panama, PLC Which Lawyer? (2006, 2007)
Leading corporate/M&A lawyer, Panama, PLC Which Lawyer? (2006)
Leading corporate and commercial lawyer, Panama, IFLR1000 (2005)
Ricardo M. Arango - Biography
Boards and Leadership Positions
Director of MHC Holdings, a publicly traded holding company in Panama (2006-Present)
Director of Banco General, the largest Panamanian bank (Present)
Secretary of the Board of Directors of Banco Latinoamericano de Comercio Exterior, a NYSE-listed company
(2002-Present)
Director of Corporación La Prensa, the largest circulation newspaper in Panama (2002-Present)
Director and Secretary of The Panama Stock Exchange (1995-Present)
Member of Consejo Empresarial de América Latina
Regional Vice Chair, Lex Mundi Bank Finance and Regulation Group, Latin America / Caribbean (2011-present)
Regional Vice Chair, Lex Mundi Managing Partners Committee, Latin America / Caribbean (2011-2015)
Publications
"Taking advantage", IFLR Americas regional report (2015)
“M&A Activity in Panama - Key Legal Issues to Consider”, The International Who's Who of Merger & Acquisition
Lawyers (2012)
"Going with the flow", IFLR Structured Finance & Securitisation Guide (2012)
PLC Finance Multi Jurisdictional Guide (2012)
"Infrastructure boom", IFLR Guide to Project Finance (2011)
Getting the Deal Through - Banking Regulation, Panama Chapter, Law Business Research (2011)
"A promising future", IFLR Global Mergers & Acquisitions Guide (2011)
PLC Cross-border Finance Handbook, Panama chapter (2011)
"Dealing in the Debt Markets", IFLR Focus Latin America (2010)
"How Panama M&A will grow", IFLR Global Mergers & Acquisitions Guide (2010)
PLC Cross-border Doing Business in... Handbook (2010)
PLC Cross-border Capital Markets Handbook, Panama chapter (2009/2010)
Euromoney LatAm Financial Markets Handbook (2010)
"ABCs of Infrastructure Financing in Panama", IFLR Guide to Energy and Project Finance (2009)
PLC Cross-border Capital Markets Handbook, Panama Chapter (2008/9)
"Know the Territory", IFLR Guide to Energy and Project Finance (2008)
"The Host With the Most", IFLR Guide to Offshore (2008)
"Structuring Future Flow Securitizations in Panama", Structured Finance Yearbook, International Financial Law Review
(2003)
"Mergers & Acquisitions: Panama", Getting the Deal Through, Law Business Research (2002)
"Mergers and Acquisitions in Panama: an Overview", LatinLawyer (2001)
Ricardo M. Arango - Biography
Powered by TCPDF (www.tcpdf.org)