Marval in issue of “Mercado Crédito XIX”
Marval O’Farrell Mairal has advised on the issuance of the nineteenth series of trust securities corresponding to the financial trust “Mercado Crédito”.
The amount of the issue totalled V/N ARS 6,282,404,027 and is part of the Mercado Crédito Global Trust Securities Programme, which securitises 100% digital loans.
The issuance took place on 19 September 2023 and included trust debt securities for V/N ARS 4,253,187,526 and participation certificates for V/N ARS 2,029,216,501.
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 XIX consist of loans granted 100% digitally to users 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.
Rosario López and María Victoria Suárez acted as in-house counsels to MercadoLibre.
Marval’s team consisted of partners Juan M. Diehl Moreno (pictured left) and Sergio Tálamo (pictured right), together with associates Sebastián Swinnen, Lautaro Penza and Agustín Alejo Centurion.
