Marval O’Farrell Mairal advised Mercado Libre once again on the issuance of Mercado Crédito XLV trust securities 

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

The firm acted as legal advisor on the issuance of the 45th series of financial trusts “Mercado Crédito”, for a total amount of ARS 109,999,981,741, under the “Mercado Crédito” Program, which securitizes 100% digital loans. The transaction took place on February 26, 2026, and included the issuance of trust debt securities for a total of ARS 89,099,985,210 and certificates of participation for ARS 20,899,996,531. 

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 XLV” 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.