Marval O’Farrell Mairal keeps leading the Argentinian legal market regarding counselling in Banking & Finance and Fintech issues.

Once again, Marval O’Farrell Mairal acted as legal advisor in the issuance of the fourteenth series of financial trusts “Mercado Crédito Consumo”, for a total of ARS 3,499,978,766, under the “Mercado Crédito” Program, which securitizes 100% digital loans. 

The transaction took place on November 7, 2022 and included the issuance of trust debt securities for a total of ARS 2,659,983,862, and certificates of participation for a total of ARS 839,994,904.

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 XIV” 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 for the transaction through a team led by partners Juan M. Diehl Moreno and Sergio Tálamo, together with associates Federico Nahuel Pitarch and Carmen Del Pino. Micaela Varas Bleuer and Rosario López acted as MercadoLibre inhouse counsels.