Marval in new Mercado Crédito issuance
Marval O’Farrell Mairal acted once again as legal counsel in the issuance of the twenty-sixth series of trust securities corresponding to the “Mercado Crédito” financial trust.
The amount of the issue totaled V/N ARS 45,988,035,632 and is part of the Mercado Crédito Global Trust Securities Program, which securitizes 100% digital loans.
The issuance took place on September 16 and included trust debt securities for V/N ARS 35,640,727,615 and participation certificates for V/N ARS 10,347,308,017.
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 XXVI consist of consumer and working capital 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 authorized the public offering of these trust securities, which are traded in the Electronic Open Market and listed in the Argentine Stock Exchanges and Markets.
Micaela Varas Bleuer, María Victoria Suarez and Paulina 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 Sebastian Swinnen.
