Marval advises on new Mercado Crédito issue

Marval O’Farrell Mairal has once again advised on the issuance of the twenty-third series of trust securities corresponding to the “Mercado Crédito” financial trust.

The amount of the issue totalled V/N ARS 19,560,295,205 and is part of the Mercado Crédito Global Trust Securities Programme, which securitises 100% digital loans. The issuance took place on 4 July and included trust debt securities for V/N ARS 14,670,221,404 and participation certificates for V/N ARS 4,890,073,801.

MercadoLibre, a leading LATAM company, acted as trustee, administrator and collection agent; while Banco Patagonia acted as trustee, arranger and placement agent, and Allaria as sub-placement agent.

Under the same structure used in the previous issues, the trust assets in Mercado Crédito XXIII consist of consumer loans granted 100% digitally to users and consumers through the execution of private instruments subscribed by electronic signature, through MercadoLibre’s electronic platform.

The National Securities Commission authorised the public offering of these trust securities, which are traded in the Electronic Open Market and listed in the Argentinean Stock Exchanges and Markets.

María Victoria Suarez and Paulina Soledad Rossi acted as in-house counsel to MercadoLibre.

Marval’s team consisted of partners Juan M. Diehl Moreno (pictured left) and Sergio Tálamo (pictured right), together with associate Sebastián Swinnen.