Marval Advises on the Issuance of Mercado Credito XXXVI Financial Trusts
Marval has once again played a major role in a Banking & Finance, and Fintech transaction.
This time, the Firm acted as legal advisor on the issuance of the 36th series of Mercado Credito financial trusts, for a total amount of ARS 99,999,983,022, under the Mercado Credito Program, which securitizes 100% digital loans. The transaction took place on May 8, 2025 and included the issuance of trust debt securities for a total of ARS 79,999,986,418 and certificates of participation for ARS 19,999,996,604.
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 XXXVI 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 A3 Mercados SA (former 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 Talamo, together with the Associate Sebastian Swinnen. Micaela Varas Bleuer, Maria Victoria Suarez, and Paulina Rossi acted as MercadoLibre in-house counsels.