Diego Gallegos

Diego specializes in financing advice, including infrastructure projects, as well as the structuring and regulations of the banking and securities market financial area.

• Represented Deutsche Bank AG and a syndicate of creditors in the US$150MM sale of future accounts receivable from the airline Avianca with USAVFlow as Debtor.
• Represent the Latin American Bank of Foreign Trade S.A. in a loan of US $100MM to the Dos Pinos Milk Producers Cooperative.
• Represent OPIC and Citibank N.A. as creditors in a secured loan of US$154,400,000 to CrediQ S.A. of C.V. and CrediQ Inversiones C.R., S.A.
• Represented IDB Invest in the purchase of future accounts receivable for $24MM from Telefónica subsidiaries in Guatemala, Costa Rica and Panama.
• Represented IDB Invest in the $350MM financing of a Central American conglomerate in the food and energy industry.
• Represented First Citizens Bank as a creditor in a $10.5MM loan to a local financial group.
• Represented Cargill Trade and Finance in a financing for US$54,166,666.67 to a Costa Rican state bank.
• Represented FMO in a US$30MM trust-guaranteed financing to a private bank in Costa Rica.
• Represented FMO in a US$20MM financing to a Private Bank in Costa Rica.

His experience includes working on projects such as the financing of the Lima Metro in Peru, the Costa Norte liquefied natural gas terminal in Panama, an oil derivatives refinery in Costa Rica as well as projects in other countries such as Kazakhstan, Indonesia, Nepal and the East African Community.

He rejoined Arias in 2017 after completing his master's degree in law at Columbia University and holding positions in the Washington D.C. offices. from Chadbourne & Parke LLP (now Norton Rose Fulbright) and the World Bank International Finance Corporation (IFC). There, he specialized in project financing, infrastructure and advice on political risk mitigation and attracting foreign direct investment.

His recent experience at Arias includes:

• Represent Bank of America N.A. as Administrative Agent and Arranger and a syndicate of creditors in a senior secured loan A for $195MM, a secured loan B for $380MM and a revolving credit facility for US$380MM with Evertec Group LLC as Obligor.

• Diego Gallego advised EnfraGen, a developer and owner of renewable energy infrastructure, in the financing for the acquisition in Costa Rica of their first wind power asset for $1,060,000,000.00. In addition, EnfraGen acquired renewable operating assets in Panama and executed a refinancing of a 2020 facility, which also meant a restructure for the Costa Rican entities.
  The deal included the structuring of local financing documents, including the preservation of the existing trust structure created to secure the target’s bond issuance, the repayment of that bond issuance and repurposing of the trust for the new project financing. Several departments of the firm were involved, including the M&A department, and public law department, to review obligations under the existing PPA.
• Diego Gallegos 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.
• Sustainable Ocean Fund ("SOF" formerly known as Althelia Sustainable Ocean Fund SICAV-SIV) creates investor value and social impact by providing growth capital to companies that harness the ocean’s natural capital. For this specific matter, they provided a refinance of $12M to Aquacorporación Internacional S.A., which is part of Aquafoods Group, one of the largest marine fish processing and mariculture companies in Central America. Specifically, SOF provided the working capital required to boost Martec’s sustainable aquaculture practices so that it can fulfil its vision of becoming the market leader in sustainable seafood in the region. Diego Gallegos and his team at Arias prepared the local security documents, as well as advised on the English Law documents, prepared a legal opinion, negotiated with Aguafoods Group (which Aquacorporación is part of), and intervened with the UK counsel.
• Diego and his team represented several financial institutions as Lenders in financing a loan in the aggregate amount of $320,000,000 to BIOMERICS, LLC, a Utah limited liability company as the Borrower.

• Banking and finance
• Capital markets: Debt

• Banking
• Financial services

• New York

• Admitted to practice in: New York (2016) and Costa Rica (2013)
• International Bar Association (IBA)

• Law Degree from the University of Costa Rica.
• LL.M, Columbia Law School.