Marval O’Farrell Mairal has advised on the issuance of series XXI trust securities corresponding to the financial trust “Mercado Crédito Consumo” for an amount of V/N ARS 6,999,993,394.
The issue was made on 15 June under the Mercado Crédito Global Trust Securities Programme, which securitises 100% digital loans, and included trust debt securities for V/N ARS 5,424,994,880 and participation certificates for V/N ARS 1,574,998,514.
MercadoLibre SRL 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 Consumo 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 on the Electronic Open Market and listed on the Argentinean Stock Exchanges and Markets.
Rosario López and María Victoria Suarez acted as in-house counsels to MercadoLibre.
Marval’s team consisted of partners Juan M. Diehl Moreno (pictured left) and Sergio Tálamo (pictured right), and associates Carmen Del Pino, Agustín Alejo Centurion and Manuela Kotsias Fuster.