Marval assists in issuance of Mercado Crédito XXII
Marval O’Farrell Mairal has once again assisted as legal advisor in the issuance XXII of the series of trust securities corresponding to the financial trust ‘Mercado Crédito’.
The amount of the issue totalled V/N ARS 6,998,198,885 and is part of the global Mercado Crédito trust securities programme, which securitises 100% digital loans. The issuance took place on 23 May and included trust debt securities for V/N ARS 5,213,658,169 and participation certificates for V/N ARS 1,784,540,716.
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 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 in the Electronic Open Market and listed in the Argentinean Stock Exchanges and Markets.
María Victoria Suarez and Paulina Soledad Rossi 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 associate Sebastián Swinnen.
