Marval advises on the issuance of Trust Securities "Mercado Crédito Consumo XXXIV"

The Argentine law firm once again advised on a transaction involving Banking, Finance and Fintech law

Marval O’Farrell Mairal - After participating in 33 series, Marval O’Farrell Mairal acted once again as legal advisor in the issuance of the thirty-fourth series of trust securities corresponding to the "Mercado Crédito Consumo" financial trust.

The amount of the issue totaled V/N ARS 25,999,993,874 and is part of the Mercado Crédito Global Trust Securities Program, which securitizes 100% digital loans.

The issuance was made on July 15, 2024 and included trust debt securities for V/N ARS 20,149,995,253 and participation certificates for V/N ARS 5,849,998,621.

MercadoLibre SRL, a leading LATAM company, acted as trustee, administrator and collection agent, while Banco Patagonia SA acted as trustee, arranger and underwriter, and Allaria SA, as underwriter. Under the same structure used in the previous issues, the trust assets in Mercado Crédito Consumo XXXIV 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 authorized the public offering of these trust securities, which are traded in the Electronic Open Market and listed in Bolsas y Mercados Argentinos SA.

Marval O’Farrell Mairal acted as legal counsel in the transaction through its partners Juan M. Diehl Moreno and Sergio Tálamo, together with its associate Sebastian Swinnen. Micaela Varas Bleuer, María Victoria Suarez and Paulina Rossi acted as in-house counsel to MercadoLibre.

marval.com