Cindy Arrivillaga

• Banking, Finance and Insurance

• Capital Markets and Securities

• Civil and Notarial Law

• Corporate and Commercial law

• FinTech

• Mergers and Acquisitions

• Project and Infrastructure Finance

• Public Infrastructure and Public Private Partnerships

Cindy has been a member of Arias since 2015 and serves as Director of the Banking and Finance practice in the firm's Guatemala office. She advises development finance institutions (DFIs), international lenders, financial institutions, and corporate borrowers on complex financing transactions, with particular experience in impact investment and sustainable finance, including transactions supporting economic development, financial inclusion, and environmental sustainability.

Her practice covers the structuring and negotiation of syndicated loans, debt securities issuances, project finance transactions, and secured financings. She also advises financial institutions, insurers, reinsurers, and corporate clients on regulatory matters, including authorizations, compliance, and administrative proceedings before local regulators.

In addition to her banking and finance practice, Cindy advises local and multinational clients on M&A, corporate structuring, insolvency, and securities transactions.

She is also active in pro bono work, participating in various social impact initiatives promoted by local and international organizations, and leads these efforts within the firm, actively involving her team.

• Admitted to practice law in the State of New York, United States of America

• Authorized as Attorney and Notary in Guatemala

• Member of the Guatemalan Bar Association (CANG)

• Member of the International Bar Association (IBA)

• Member of the Board of Directors of the Pro Bono Association of Guatemala

• Member of the Legal Advisory team of the Fintech Association of Guatemala

• Advised BAC (Banco de América Central, S.A.) on a US$34 million financing for the construction and operation of the "San Patricio" photovoltaic solar plant in Guatemala, a 66MWp project expected to generate approximately 141 GWh of clean energy annually.

• Acted as local counsel to Natixis Corporate and Investment Banking (New York branch) and BLADEX on a US$115 million club deal financing granted to Transportadora de Energía de Centroamérica, S.A. ("TRECSA"), structured as a multistage transaction combining a bridge facility with a five-year term loan to refinance existing debt.

• Advised Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG) on a US$70 million financing for the development and construction of a new sugar mill in the San Isidro Industrial Park, supporting Guatemala's agro-industrial sector.

NYU School of Law, United States

Master of Laws focused on International Transactions

Universidad del Istmo, Guatemala

Postgraduate Diploma in International Contracting

Universidad Rafael Landívar, Guatemala

LL.B. in Legal and Social Sciences

University of Oxford's Smith School of Enterprise and the Environment, United Kingdom

Sustainable Finance: ESG and the Future of Finance Course

Latin America Banking & Finance Rising Star of the Year

Women in Business Law

2025

Rising Star award for Central America

IFLR

2025