Marval Advises on the Issuance of “Mercado Crédito XXVII” Financial Trusts

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

This time, Marval O’Farrell Mairal acted as legal advisor on the issuance of the 27^th series of financial trusts “Mercado Crédito”, for a total amount of ARS 42.984.652.769, under the “Mercado Crédito” Program, which securitizes 100% digital loans. The transaction took place on October 7^th, 2024, and included the issuance of trust debt securities for a total of ARS 33.313.105.896 and certificates of participation for ARS 9.671.546.873. 

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

The securities were authorized for public offering by the Argentine Securities Commission and listed in ‘Bolsas y Mercados Argentinos SA’ and ‘Mercado Abierto Electrónico SA’.

Marval O’Farrell Mairal acted as legal advisor of the transaction through a team led by Partners Juan Diehl Moreno and Sergio Tálamo, together with the Associate Sebastian Swinnen. Micaela Varas Bleuer, María Victoria Suarez and Paulina Rossi acted as MercadoLibre in-house counsels.