Marval acts in new Mercado Crédito Consumo issuance
Marval O’Farrell Mairal has acted as legal advisor in the issuance of trust securities “Mercado Crédito Consumo XXXI” for a total amount of V/N ARS 17,999,991,535.
The issue was made on 8 April as part of the Mercado Crédito Global Trust Securities Programme, which securitises 100% digital loans, and included trust debt securities for V/N ARS 15,119,992,890 and participation certificates for V/N ARS 2,879,998,645.
MercadoLibre SRL, 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 Consumo XXXI 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 on the Electronic Open Market and listed on the Argentinean Stock Exchanges and Markets.
Micaela Varas Bleuer and María Victoria Suarez 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 associates Agustín Alejo Centurion, Sebastián Swinnen and Carmen del Pino.
