Mario Lozano

Mario is part of the Banking and Finance Departments, as well as the M&A and Corporate Departments. He is head of the FINTECH and Cryptocurrencies practice. He joined the firm in 2010 and was appointed partner in 2021. Prior to joining the firm, he worked in the banking sector for more than 7 years, where he had the opportunity to assist in corporate, registration, regulatory, administrative matters.

He has provided advice to the most important financial institutions operating in El Salvador, including complex sales and acquisition of assets. He has also participated in highly complex corporate restructurings for several multinational companies in regulated and non-regulated sectors, and in the implementation of economic and corporate structures of prestigious business groups. He has been involved in the pension sector through sales processes as well as in the insurance sector through the incorporation of brokerage and reinsurance companies, advising on the process of obtaining regulatory authorizations and in the beginning of their operations.

Mario actively participates in mergers and acquisitions, analyzing regulatory aspects, due diligence and closing of transactions within different sectors such as: telecommunications, banking, pensions, real estate and franchises, among others. Advises on international financing and syndicated loans, issuance of guarantees through securitization, sale of credit portfolios, dissolution and liquidation of companies, advice on financial derivatives, among other topics.

• Mario Lozano acted as the local counsel in El Salvador for GLAS Trust Corporation Limited, the security agent for the Note Purchasers. In this role, they helped GLAS Trust design a security structure to protect the rights of the lenders (Note Purchasers) by meticulously preparing, executing, and registering several guarantees and pledges on behalf of Atento El Salvador. This transaction was part of a wider financial restructuring of Atento's debt.
• Telefónica is acquiring the Salvadoran business of the company IBW through the acquisition of the 3 entities operating in El Salvador. Mario Lozano and his team are lead counsel to Telefonica as Purchaser. Arias has assisted Telefonica in all part of the transactions, by carrying out due diligence of the Salvadoran entities, as well as preparing, assisting with all the legal matters of the Share Purchase Agreement. The acquisition of the IBW business would expand and enhance the provision of the services by Telefónica in El Salvador.
• Sale of the operations of Telefonica in El Salvador, seller entity of the Telefonica business in El Salvador. Mario was part of the team advising Telefónica, S.A., TLK Investments, C.V. and Telefónica Centroamérica Inversiones, S.L., as selling companies, in the execution of the share purchase agreement regarding the sale of 100% of its interest in the operations in El Salvador in favour of General International Telcom Limited, a sale valued at 144 million dollars. The closing of the sale took place in January and was subject to the authorizations of the corresponding regulatory (antitrust) authority. The regulatory process and closing were also advised by the firm.
  Advised Bank of Nova Scotia on the sale of a controlling interest in Banco Scotiabank El Salvador and Scotia Seguros to Imperia Intercontinental, the main indirect shareholder of Banco Cuscatlán, S.A. This deal entailed a great deal of experience and analysis in procurement matters, developed mainly in the corporate, tax law, labor, regulatory, among others, for the sale of these companies part of the financial system on permanent monitoring in El Salvador.
• Advised Banco La Hipotecaria Panama and La Hipotecaria El Salvador on the structuring, issuing and placing of mortgage-backed bonds in Panamanian Stock Exchange. Provided regulatory and legal advice, drafted all documentation required to execute a true sale of La Hipotecaria El Salvador’s mortgage loans as part of the collateral. Mario was in charge of the advice for the development and improvement of deeds of assignment of mortgage loans (840 credits) owned by La Hipotecaria, SA of C.V., in favor of a Guarantee Trust, organized and existing in accordance with the laws of the Republic of Panama. Closing date: February 14th, 2019. Amount US$75,000,000 million
• Mario represented The Bank of Nova Scotia, BNS Headquarters in Canada on a loan to INFASAL for $14,000,000.00. The firm was in charge of reviewing the Terms and conditions stablished in the Credit agreement, under the Law of New York, drafting of negotiation of all the security documents, governed under Salvadoran law, amendments of the mortgages and a complex negotiation process. Important to highlight in this matter is the fact that The Bank of Nova Scotia approached Mario Lozano because of his negotiation skills and banking knowledge
  Mario was part of the advisory team to IFC (International Finance Corporation, International Organization who among its members includes the Republic of El Salvador) on a loan facility to Banco Agricola, S.A. (borrower). The purpose of this loan is to provide the borrower with funding to be used exclusively for financing its lending operations for housing loans and other projects like climate smart assets, including green building ($300 MM) and for Micro, Small or Medium sized enterprises (MSEM) specially women owned business ($30 MM). Closing August 31, 2020.
• SALE OF THE EL SALVADOR BANKING AND INSURANCE OPERATION. Arias El Salvador successfully advised The Bank of Nova Scotia on the sale of its entire participation in: (i) Inversiones Financieras Scotiabank El Salvador, S.A. (Controlling Company of the Salvadoran Financial Conglomerate); (ii) Scotiabank El Salvador, S.A. and its subsidiaries; and (iii) Scotia Seguros, S.A. to Imperia Intercontinental, Inc., the main indirect shareholder of Banco Cuscatlán, S.A. Mario was part of the team performing all the legal analysis and provided all its expertise in order to obtain the corresponding authorizations before the Superintendence of Competence and Superintendence of the Financial System

• Banking
• Restructuring and insolvency
• M&A

• Banking
• Financial services
• Consumer goods and services
• Insurance

• International Bar Association (IBA)

• Bachelor of Legal Sciences from the Dr. José Matías Delgado University.
• Authorized by the Supreme Court of Justice of El Salvador for the practice of law and notary practice.
• Master in Business Law at the Pontificia Universidad Católica de Chile, listed as one of the best law schools in the world.
• Certified in the Negotiation and Leadership Program at Harvard Law School, dedicated to the development and practice of negotiation and conflict management.