Marval in two new Mercado Crédito Consumo issues
Marval O’Farrell Mairal has advised on issues number XXVI and XXVII of trust securities corresponding to the financial trust “Mercado Crédito Consumo”.
The trust securities “Mercado Crédito Consumo XXVI” were issued on 7 November, for a total of V/N ARS 9,499,995,836 and included trust debt securities for V/N ARS 7,362,496,773 and participation certificates for V/N ARS 2,137,499,063.
The “Mercado Crédito Consumo XXVII” trust securities were issued on 7 December for a total of V/N ARS 9,999,998,514 and included trust debt securities for V/N ARS 7,749,998,848 and participation certificates for V/N ARS 2,249,999,666.
Both issues were made as part of the Mercado Crédito Global Trust Securities Programme, which securitises 100% digital loans. MercadoLibre acted as trustee, administrator and collection agent, while Banco Patagonia acted as trustee, arranger and underwriter, and Allaria as underwriter.
Under the same structure used in the previous issues, the trust assets 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.
Rosario López and María Victoria Suarez acted as in-house counsels to MercadoLibre.
Marval’s team was led by partners Juan M. Diehl Moreno (pictured left) and Sergio Tálamo (pictured right), together with associates Sebastian Swinnen, Agustín Alejo Centurión and Manuela Kotsias Fuster.
