Press Release

BUSTAMANTE FABARA acted as Ecuadorian legal counsel to JPMorgan Chase, as Lead Arranger and Original Lender, in connection with a USD 500 million international financing to Banco del Pacífico, one of Ecuador’s top commercial banks.

This transaction represents the largest single-tranche international financing ever obtained by an Ecuadorian bank and was structured as a seven-year loan with immediate disbursement, aimed at strengthening the borrower’s liquidity position and supporting the financing of Ecuador’s productive sector.

The financing incorporates a partial credit enhancement through a Standby Letter of Credit issued by CAF (Development Bank of Latin America and the Caribbean), together with a securities loan, resulting in a highly sophisticated and robust structured finance transaction.

 BUSTAMANTE FABARA advised on all Ecuadorian law aspects of the transaction, including enforceability analysis, regulatory considerations applicable to a commercial bank, albeit state-owned, and the local implementation of the guarantee and securities lending structure.

The transaction was announced in the context of the International Economic Forum for Latin America and the Caribbean 2026 held in Panama, underscoring the growing role of Ecuador in complex, large-scale cross-border financings supported by international financial institutions and multilateral development banks.

The firm’s team was led by Partner Diego Ramírez, with the participation of associate Melissa Jurado, from the Banking & Finance practice, reaffirming BUSTAMANTE FABARA’s position as a trusted adviser in high-value, structured cross-border financings.