Marval in issuance of Mercado Crédito XXI trust securities
Marval O’Farrell Mairal acted once again as legal advisor in the issuance of the twenty-first series of trust securities corresponding to the “Mercado Crédito” financial trust.
The issue was made on 11 April, for a total amount of V/N ARS 6,498,143,185 and is part of the Mercado Crédito Global Trust Securities Programme, which securitises 100% digital loans. The issue also included trust debt securities for V/N ARS 4,873,607,389 and participation certificates for V/N ARS 1,624,535,796.
MercadoLibre, a leading LATAM company, 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 XXI 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 counsels to MercadoLibre.
Marval’s team included partners Juan M. Diehl Moreno (pictured left) and Sergio Tálamo (pictured right), together with associates Sebastián Swinnen, Agustín Alejo Centurion and Carmen del Pino.
