Marval acts in new issue of MercadoLibre
Marval O’Farrell Mairal has acted as legal advisor in the issuance of Series XXV trust securities corresponding to the financial trust “Mercado Crédito Consumo”.
The amount of the issue totalled V/N ARS 8,999,997,069 and is part of the Mercado Crédito Global Trust Securities Programme, which securitises 100% digital loans. The issuance took place on 4 October 2023 and included trust debt securities for V/N ARS 6,974,997,729 and participation certificates for V/N ARS 2,024,999,340.
MercadoLibre acted as trustee, administrator and collection agent; Banco Patagonia acted as trustee, arranger and placement agent, and Allaria as sub-placement agent.
The National Securities Commission authorised the public offering of these trust securities, which are traded on the Open Electronic Market and listed on the Argentine Stock Exchanges and Markets.
Under the same structure used in the previous issues, the trust assets in Mercado Crédito Consumo XXV 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.
Rosario López and María Victoria Suárez acted as in-house counsels for MercadoLibre.
Marval’s team consisted of partners Juan M. Diehl Moreno (pictured left) and Sergio Tálamo (pictured right), together with associates Sebastián Swinnen, Agustín Alejo Centurion and Manuela Kotsias Fuster.
