Marval advised Mercado Libre on the issuance of the “Mercado Crédito LIII” Trust Securities, under the “Mercado Crédito” Program, completed under the Automatic Authorization Regime for Frequent Issuers.

Marval O’Farrell Mairal has once again played a major role in a Banking & Finance, and Fintech transaction.

The firm acted as legal counsel in connection with the issuance of the 53rd series of trust securities under the Mercado Crédito financial trust program, for a total aggregate principal amount of ARS 115,955,072,694. Series LIII was the second issuance under the Program to qualify under the Automatic Authorization Regime for Frequent Issuers, obtaining public offering authorization without requiring the prior approval of the Argentine Securities Commission (Comisión Nacional de Valores ).

The issuance was carried out under the Mercado Crédito Global Trust Securities Program, which securitizes 100% digital loans. The transaction took place on August 14, 2026, and included the issuance of trust debt securities in an aggregate principal amount of ARS 99,605,407,444 and certificates of participation in an aggregate principal amount of ARS 16,349,665,250.

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 LIII” 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 and Exchange Commission and listed in ‘Bolsas y Mercados Argentinos S.A.’ and ‘A3 Mercados S.A.’.

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 Associates Lautaro Penza, Pedro María Azumendi and Felicitas María Bereterbide. Paulina Rossi acted as MercadoLibre in-house counsel.