Marval Advises on the Issuance of Mercado Crédito XXX 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 30th series of financial trusts Mercado Credito, for a total amount of ARS 55,002,669,820, under the Mercado Credito Program, which securitizes 100% digital loans. The transaction took place on December 5, 2024, and included the issuance of trust debt securities for a total of ARS 42,209,048,820 and certificates of participation for ARS 12,793,621,000. 

MercadoLibre SRL, one of the most important companies in LATAM, acted as trustor, administrator, and collection agent. Banco Patagonia SA acted as trustee, arranger, and underwriter; and Allaria SA acted as sub-underwriter. Following the structure used in previous issuances, the securitized assets of Mercado Credito XXX 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 Electronico SA.

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