After advising in twelve series, Marval O’Farrell Mairal acted as legal advisor in the creation of the thirteen series of “Mercado Crédito” financial trust for an amount of ARS 2,000,825,364; issued under the “Mercado Crédito” Program that securitizes 100%-digital loans. The transaction took place on February 22, 2022 and included the issuance of trust debt securities for a total amount of ARS 1,500,619,023 and certificates of participation for a total amount of ARS 500,206,341.
MercadoLibre S.R.L. acted as settlor, administrator and collection agent, Banco Patagonia S.A. as trustee, arranger, and underwriter, and Allaria Ledesma & Cía. S.A. as sub-underwriter. Under the same structure as the previous issuance, the securitized assets of Mercado Crédito XIII consist of 100%-digital format consumer loans granted to users and consumers by executing private instruments signed electronically. Additionally, the Trust has a revolving structure for the first 5 months.
This transaction was authorized for public offering by the Argentine Securities and Exchange Commission and is listed in Bolsas y Mercados Argentinos S.A. and Mercado Abierto Electrónico S.A.
Marval O'Farrell Mairal acted as legal advisor of the transaction with partners Juan M. Diehl Moreno and Sergio Tálamo and associate Marina Rotman. Alejandra Attar Cohen, Micaela Varas Bleuer and Rosario Lopez acted as in-house counsel to MercadoLibre.