Marval acts in two new MercadoLibre issues
Marval O’Farrell Mairal has acted in the issuance of MercadoLibre’s trust securities “Mercado Crédito Consumo XXIII” and “Mercado Crédito Consumo XXIV”, corresponding to the financial trust “Mercado Crédito Consumo”.
The issue number XXIII had an amount totalling V/N ARS 7,999,987,820 and is part of the Mercado Crédito Global Trust Securities Programme, which securitises 100% digital loans. The issue took place on 4 August 2023 and included trust debt securities for V/N ARS 6,199,990,560 and participation certificates for V/N ARS 1,799,997,260.
The issue number XXIV totalled V/N ARS 8,499,996,845 and is part of the Mercado Credito Global Trust Securities Programme, which securitises 100% digital loans. The issue was made on 1 September 2023 and included trust debt securities for V/N ARS 6,587,497,555 and participation certificates for V/N ARS 1,912,499,290.
Under the same structure used in previous issues, the trust assets in Mercado Crédito Consumo 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.
For both issues MercadoLibre acted as trustee, administrator and collection agent; while Banco Patagonia acted as trustee, arranger and underwriter, and Allaria as underwriter.
The Comisión Nacional de Valores authorised the public offering of both trust securities, which are traded on the Mercado Abierto Electrónico and listed on Bolsas y Mercados Argentinos.
Rosario López and María Victoria Suarez acted as in-house lawyers for MercadoLibre in both transactions.
Marval’s team was led by partners Juan M. Diehl Moreno (pictured left) and Sergio Tálamo (pictured right) on both issues. Associates Carmen Del Pino, Agustín Alejo Centurion and Manuela Kotsias Fuster, assisted in the XXIII issue, and Sebastián Swinnen, Carmen Del Pino and Manuela Kotsias Fuster in the XXIV issue of Mercado Crédito Consumo.
