Marval acts in the issuance of Mercado Crédito Consumo XXXII
Marval O’Farrell Mairal acted as legal counsel in the issuance of trust securities series 32, corresponding to the financial trust ‘Mercado Crédito Consumo’.
The amount of the issue totalled V/N ARS 21,999,884,623 and is part of the Mercado Crédito Global Trust Securities Programme, which securitises 100% digital loans. The issuance took place on 14 May and included trust debt securities for V/N ARS 17,049,910,583 and participation certificates for V/N ARS 4,949,974,040.
MercadoLibre 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 XXXII 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, María Victoria Suarez and Paulina Rossi acted as in-house counsels 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 and Carmen del Pino.
