Marval advises on issuance of MercadoLibre trust securities
Marval O’Farrell Mairal has advised on the issuance of trust securities “Mercado Crédito Consumo XVIII” corresponding to MercadoLibre’s financial trust “Mercado Crédito Consumo”.
The issuance was made on March 17th under the Mercado Crédito Global Trust Securities Programme, which securitises 100% digital loans, for a total amount of V/N ARS $4,999,999,345. The issuance also included trust debt securities for V/N ARS $3,799,999,503 and participation certificates for V/N ARS $1,199,999,842.
Under the same structure used in the previous issues, the trust assets in Mercado Crédito Consumo XVIII consist of consumer loans granted in a 100% digital manner 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 Argentine Stock Exchanges and Markets.
MercadoLibre, a leading e-commerce company in Latin America, acted as trustee, administrator and collection agent; while Banco Patagonia acted as trustee, arranger and underwriter, and Allaria Ledesma & Cía. as underwriter.
Micaela Varas Bleuer and Rosario López acted as in-house legal advisors to MercadoLibre.
Marval’s team consisted of partners Juan M. Diehl Moreno (pictured left) and Sergio Tálamo (pictured right) and associates Marina Rotman, Carmen Del Pino and Agustín Alejo Centurion.
