Sparc EM SPC’s $619 Million Notes Offering

Clifford Chance and Arias, Fábrega & Fábrega advised on the transaction

SPARC EM SPC, a segregated portfolio company incorporated under the laws of the Cayman Islands, completed the offering of $618,708,000 aggregate principal amount of Series 2017-1 Senior Secured Notes due 2022 to partially finance its CDNO purchase commitment to the Consortium, as part of the financing for the engineering design of, the construction of civil works, auxiliary facilities and stations of, the supply and installation of the integral rail system, including rolling stock, for and the commencement of operations of Panama City Metro Line 2.

UBS Investment Bank acted as sole bookrunner on the transaction.

Clifford Chance LLP advised UBS Investment Bank and Sparc EM SPC with Gianluca Bacchiocchi (Picture), Per Chilstrom, Gareth Old, Jeffrey Susskind, Mariana Estévez, Shane Meckler, Lane Feler, Claire Neo and Paula Ferreira.

In Panama City, Arias, Fábrega & Fábrega advised UBS Investment Bank and Sparc EM SPC with Estif Aparicio, Cedric Kinschots, María Cristina Guardia, Javier Yap Endara, Fernando Arias F. Jr. and Ana Isabel Quijano.

Involved fees earner: Estif Aparicio – Arias Fabrega & Fabrega; Cedric Kinschots – Arias Fabrega & Fabrega; Javier Yap Endara – Arias Fabrega & Fabrega; Fernando Arias F. – Arias Fabrega & Fabrega; Ana Isabel Quijano – Arias Fabrega & Fabrega; María Cristina Guardia – Arias Fabrega & Fabrega; Per Chilstrom – Clifford Chance; Gianluca Bacchiocchi – Clifford Chance; Gareth Old – Clifford Chance; Mariana Estévez – Clifford Chance; Shane Meckler – Clifford Chance; Lane Feler – Clifford Chance; Claire Neo – Clifford Chance; Jeffrey Susskind – Clifford Chance;

Law Firms: Arias Fabrega & Fabrega; Clifford Chance;

Clients: UBS Investment Bank; Sparc EM SPC;

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Author: Ambrogio Visconti