Estif Aparicio

Arias, Fábrega & Fábrega


Banking & finance, Capital markets

[email protected]

LACCA Approved


Estif Aparicio is a skilled corporate lawyer, currently specialising in complex financing of private and public major construction and infrastructure projects, with a focus on energy, public transportation, airports, ports, health and other social infrastructure.

Mr Aparicio has outstanding deal management and broad expertise setting up a variety of financial structures, having represented creditors in the biggest and perhaps most complex transactions in Panama in recent years, including the expansion of the Tocumen International Airport; the first and second line of the Panama City Metro; Cinta Costera phases I, II and III; and Metro Bus, Panama City new public transportation system. 

He possesses a unique insight to the power generation industry and the Panamanian government “green energy” policy favoring wind, solar, gas and hydroelectric generation, having represented the lenders that have provided financing to close 35 per cent of the total generation capacity of the country. 

From 2004 to 2006, Mr Aparicio worked for the Panamanian government as chief trade negotiator of all bilateral and multilateral free trade agreements. In this role, Mr Aparicio coordinated Panama’s participation in the Doha Round of the World Trade Organization, successfully negotiating free trade agreements with the US, Singapore and Chile.

Before joining ARIFA, Mr Aparicio worked for Sullivan & Cromwell LLP in New York, participating in capital markets, M&A and project finance transactions.

Mr Aparicio has a master of laws degree from the University of Houston Law Center and a bachelor of laws from the University of Panama.

He is admitted to practise in Panama and New York.

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