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

After advising on the first ten series, Marval O’Farrell Mairal acted as legal advisor on the issuance of the eleventh series of the “Mercado Crédito” financial trust, for an amount of ARS $ 1,257,324,233, under the “Mercado Crédito” Program that securitizes 100%-digital loans.

The transaction took place on August 19, 2021, and included the issuance of trust debt securities for a total amount of ARS $ 942,993,175 and certificates of participation for a total amount of ARS $ 314,331,058. 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 XI 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.

The securities were authorized for public offering by the Argentine Securities and Exchange Commission and are 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.