Marval advises on creation of Mercado Crédito financial trust
Argentinian law firm Marval, O’Farrell & Mairal acted as legal adviser in the creation of the second series of the Mercado Crédito II financial trust, totalling 279.4 million pesos 10,519 ($7.3 million).
Mercado Crédito II is based on the same structure as the Mercado Crédito I financial trust, and which offers 100-per cent digital-format loans by executing private instruments signed by electronic signature on Mercado Libre’s online platform.
The fund includes trust debt securities fo 229.1 million pesos and certificates of participation for 50.2 million pesos.
Mercado Libre acted as settlor and administrator, and Banco Patagonia as trustee, arranger and underwriter.
The transaction was authorised for public offering by the Argentinian Securities and Exchange Commission and is listed in Bolsas y Mercados Argentinos S.A. and Mercado Abierto Electrónico.
Marval, O’Farrell & Mairal acted as legal adviser with an interdisciplinary team from the banking and IT practice areas, led by partner Juan M. Diehl Moreno and associates Sergio Tálamo, Jacqueline Berkenstadt and Santiago Eraso Lomaquiz.
Gabriela Colombo, Esteban Tresserras and Micaela Varas Bleuer acted as in-house counsel for Mercado Libre.
