Mercado Libre Raises $1 Billion in 10-Year Note Issue

By Tamara Parker • Thursday, September 10 10:53 • Permanent Link

Mercado Libre raised $1 billion through a 2036 senior unsecured note issue, locking in a 10-year maturity at a 5.850% coupon.

The company said the deal drew demand from more than 100 institutional investors. It priced the new 10-year note at the same spread as its prior 7-year issuance, despite the longer tenor.

The notes are SEC-registered senior unsecured securities and carry ratings of BBB from S&P, Baa3 from Moody’s and BBB from Fitch.

Mercado Libre said the proceeds will be used for general corporate purposes and will add to liquidity. The transaction was led by BofA Securities, Citigroup, Goldman Sachs, J.P. Morgan and Morgan Stanley as global coordinators and lead book-running managers, with Allen & Company and Santander as joint book-running managers. As a result of these announcements, the company's shares have moved 0.58% on the market, and are now trading at a price of $1887.25. Check out the company's full 8-K submission here.

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