Marval O’Farrell Mairal Advises in First Issuance under the "Mercado Crédito" Program Presented and Authorized 100% Remotely by the CNV

Marval O’Farrell Mairal participated as legal advisor in the issuance of fiduciary securities corresponding to “MELI Derechos Creditorios Tarjetas IV” Financial Trust, issued under the “Mercado Crédito” Program, for a total amount of ARS 501.015.000.

The filing and authorization procedure was done remotely due to the social, preventive and obligatory isolation decreed by the Argentine Government. This first remote authorization by the Argentine Securities and Exchange Commission (the “CNV” after its acronym in Spanish) of the trusts set up, as well as the successful placement of the product under this method, is truly a milestone, which was achieved thanks to the commitment, responsibility and professionalism of the parties involved.

The issue was made on May 26, 2020 and included Trust Debt Securities Class A for a total amount of ARS 500.000.000 and Trust Debt Securities Class B for a total amount of ARS 1.015.000. MercadoLibre S.R.L. acted as Settlor, Administrator and Collection Agent, and Banco Patagonia S.A. as Trustee, Arranger and Underwriter. Allaria Ledesma & Cía acted as sub-underwriter.

The transaction was authorized for public offering by the CNV on May 14, 2020 and is listed in Mercado Abierto Electronico S.A. and Bolsas y Mercados Argentinos S.A.

The Trust Debt Securities Class A and Trust Debt Securities Class B have been qualified as “AAAsf(arg)” and “AAAsf(arg)”, respectively by FIX SCR S.A. Risk Rating Agent.

Marval O’Farrell Mairal acted as legal advisor of the transaction with partner Juan M. Diehl Moreno and associates Sergio Tálamo and Jacqueline Berkenstadt.

Esteban Tresserras and Micaela Varas Bleuer acted as in-house lawyers of MercadoLibre.