We advised on the issuance of the “Mercado Crédito Consumo V” Financial Trust

After advising on the first, second, third and fourth series, Marval O’Farrell Mairal acted as legal advisor on the issuance of the fifth series of the “Mercado Crédito Consumo” financial trust, for an amount of ARS $1,645,492,053, under the “Mercado Crédito” Program that securitizes 100%-digital loans.

The transaction took place on July 20, 2021 and included the issuance of trust debt securities for a total amount of ARS $1,275,256,341 and certificates of participation for a total amount of ARS $370,235,712.

MercadoLibre acted as settlor, administrator and Collection Agent, Banco Patagonia as trustee, arranger and underwriter, and Allaria Ledesma & Cía. SA, as sub-underwriter. Under the same structure as the previous issuance, the securitized assets of Mercado Crédito Consumo V 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 6 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 associates Ezequiel Guerrero and Marina Rotman. Alejandra Attar Cohen, Melanie Peker and Gonzalo Spada acted as in-house counsel to MercadoLibre.