Marval O’Farrell Mairal’s strengthens its leadership in the areas of Banking & Finance and Fintech.
The Argentinean law firm acted once more as legal advisor on the sixteenth series of trust securities issued by the “Mercado Crédito” trust, for a total amount of ARS 2,999,999,502 under the “Mercado Crédito” Program, which securitizes 100% digital loans. The transaction took place on October 31, 2022, and included the issuance of trust debt securities for a total amount of ARS 2,069,999,657 and certificates of participation for a total amount of ARS 929,999,845.
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 XVI” 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 Argentine Securities and Exchange Commission and 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 through partners Juan M. Diehl Moreno and Sergio Tálamo and associates Federico Nahuel Pitarch and Carmen Del Pino.
Alejandra Attar Cohen, Micaela Varas Bleuer, and Rosario Lopez acted as in-house counsels to MercadoLibre.