MercadoLibre, Inc. closed a new US$ 400MM Senior Unsecured Syndicated Loan, together with Citi

By Mercado Libre

This is an automated translation of the press release issued in Spanish

New York, September 30, 2024.- Today, MercadoLibre, Inc. closed a new financing of US$400 million under the Senior Unsecured Syndicated Loan maturity date in 2028 and whose destination of funds is General Corporate Purposes.

Citi acted as Joint Lead Arranger and Bookrunner on this transaction, together with BOFA Securities Inc., BNP Paribas Securities Corp., and JPMorgan Chase Bank, N.A. The syndication process was launched on August 30, 2024. The Company decided to invite only a select number of banks to participate as Mandated Lead Arrangers of the transaction.

With this refinancing, MercadoLibre managed to extend the maturity of the revolver, improving its liquidity profile with the help of this new line of credit committed under the figure of Revolving Credit Facility with maturity in 2028.

A new bank joined the transaction, expanding MELI's relationship banks.

MercadoLibre successfully replaced the previous structure that included a single applicable margin for calculating the variable interest rate, with a new pricing grid based on the credit rating of agencies.

- Amount: USD 400MM

- Law: New York State

- Expiration: September 27, 2028

- Tenor: 4 years

- Facility: Senior Unsecured Revolving Credit Facility

About Citi

Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management, and a valued consumer services bank in its home market, the United States. Citi conducts business in nearly 160 countries and jurisdictions and provides corporations, governments, investors, institutions, and individuals with a broad range of financial products and services.