Marval O’Farrell Mairal Advises on the Issuance of “Mercado Crédito Consumo XIX” Financial Trusts

Marval O’Farrell Mairal Advises on the Issuance of “Mercado Crédito Consumo XIX” Financial Trusts

The firm has once again played a major role in Banking & Finance, and Fintech transactions.

Marval O’Farrell Mairal acted as legal advisor on the issuance of the nineteenth series of financial trusts “Mercado Crédito Consumo”, for a total amount of ARS 5,999,991,687, under the “Mercado Crédito” Program, which securitizes 100% digital loans. The transaction took place on April 13, 2023, and included the issuance of trust debt securities for a total of ARS 4,649,993,557 and certificates of participation for ARS 1,349,998,130.

MercadoLibre, one of the most important companies in LATAM, acted as trustor, administrator, and collection agent. Banco Patagonia acted as trustee, arranger, and underwriter; and Allaria Ledesma & Cía. SA acted as sub-underwriter. Following the structure used in previous issuances, the securitized assets of “Mercado Crédito Consumo XIX” consist of 100% digital consumer loans granted to users and consumers by executing private instruments signed electronically.

The securities were authorized for public offering by the Argentinean Securities and Exchange Commission and listed in Bolsas y Mercados Argentinos S.A. and Mercado Abierto Electrónico S.A.