Marval assists in issuance of Mercado Crédito Consumo XXII
Marval O’Farrell Mairal has assisted in the Series XXII issue of trust securities corresponding to the financial trust “Mercado Crédito Consumo”. The amount of the issue totalled V/N ARS 7,499,958,891.
The issue was made on 7 July, under the Mercado Crédito Global Trust Securities Programme, which securitises 100% digital loans, and included trust debt securities for V/N ARS 5,812,468,141 and participation certificates for V/N ARS 1,687,490,750.
Under the same structure used in the previous issues, the trust assets in Mercado Crédito Consumo XXII 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 Argentine Stock Exchanges and Markets.
MercadoLibre acted as trustee, administrator and collection agent; while Banco Patagonia acted as trustee, arranger and placement agent, and Allaria as sub-placement agent.
Rosario López and María Victoria Suarez 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), together with associates Carmen Del Pino, Manuela Kotsias Fuster and Agustín Alejo Centurion.
