Marval acts in new issuance of MercadoLibre trust securities
Marval O’Farrell Mairal acted once again as legal advisor in the issuance of the 29th series of trust securities corresponding to the financial trust “Mercado Crédito Consumo” for a total of V/N ARS 11,999,885,765.
The issue was made on 1 February under the Mercado Crédito Global Trust Securities Programme securitising 100 % digital loans, and included trust debt securities for V/N ARS 9,299,911,468 and participation certificates for V/N ARS 2,699,974,297.
The National Securities Commission authorised the public offering of these trust securities, which are traded on the Electronic Open Market and listed on the Argentine Stock Exchanges and Markets.
MercadoLibre acted as trustee, administrator and collection agent. Banco Patagonia acted as trustee, arranger and placement agent, while Allaria acted as sub-placement agent.
Under the same structure used in the previous issues, the trust assets in Mercado Crédito Consumo XXIX consist of consumer loans that are granted 100% digitally to users and consumers. This is done through the execution of private instruments subscribed by electronic signature and through MercadoLibre’s electronic platform.
Micaela Varas Bleuer, María del Rosario López and María Victoria Suarez acted as in-house legal advisors to MercadoLibre.
Marval’s team included partners Juan M. Diehl Moreno (pictured left) and Sergio Tálamo (pictured right), and associates Sebastian Swinnen, Agustín Alejo Centurion and Carmen del Pino.
