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Argentina   

Marval advised on the issuance of trust securities "Mercado Crédito Consumo XXIX"

The Argentine law firm once again provided legal advice in a transaction on banking, finance and fintech law

After participating in 28 series, Marval O’Farrell Mairal acted -once again- as legal advisor in the issuance of the 29th series of trust securities corresponding to the financial trust "Mercado Crédito Consumo".

The amount of the issue totaled V/N ARS 11,999,885,765 and is part of the Mercado Crédito Global Trust Securities Program that securitizes 100% digital loans. The issuance took place on February 1, 2024 and included trust debt securities for V/N ARS 9,299,911,468 and participation certificates for V/N ARS 2,699,974,297.

MercadoLibre SRL, a leading LATAM company, acted as trustee, administrator and collection agent. Banco Patagonia S.A. acted as trustee, arranger and placement agent, while Allaria S.A. acted as sub-placement agent. Under the same structure used in the previous issues, the trust assets in Mercado Crédito Consumo XXIX consist of consumer loans that are granted 100% digitally to users and consumers. This is done through the execution of private instruments subscribed by electronic signature and 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 associates Sebastian Swinnen, Agustín Alejo Centurion and Carmen del Pino. Micaela Varas Bleuer, María del Rosario López and María Victoria Suarez acted as in-house counsel to MercadoLibre.

Marval.com

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