MercadoLibre $1.1 billion inaugural registered notes offering
Davis Polk advised the representatives of the underwriters in connection with an inaugural SEC-registered debt offering by MercadoLibre, Inc. of $400 million aggregate principal amount of 2.375% sustainability notes due 2026 and $700 million aggregate principal amount of 3.125% senior notes due 2031. Proceeds from the sustainability notes will be used to finance eligible projects that (i) contribute to environmental objectives such as: clean transportation, land conservation and preservation, energy efficiency, renewable energy, green buildings and pollution prevention and control or (ii) aim to address or mitigate a specific social issue or seek to achieve positive social outcomes especially, but not exclusively, for one or more target populations. The notes are fully and unconditionally guaranteed by several of MercadoLibre's principal subsidiaries by revenue – namely, MercadoLibre S.R.L., Ibazar.com Atividades de Internet Ltda., eBazar.com.br Ltda., Mercado Envios Servicos de Logistica Ltda., MercadoPago.com Representações Ltda., MercadoLibre Chile Ltda., MercadoLibre, S. de R.L. de C.V., DeRemate.com de México, S. de R.L. de C.V. and MercadoLibre Colombia Ltda.
Founded in 1999, MercadoLibre is the largest online commerce ecosystem in Latin America, serving as an integrated regional platform and as a provider of the necessary online and technology-based tools that allow businesses and individuals to trade products and services in the region. The company enables commerce through its marketplace platform (including online classifieds for motor vehicles, services and real estate), which allows users to buy and sell in most of Latin America.
The Davis Polk corporate team included partner Richard D. Truesdell Jr. and associates Eryn E. Gordon, Yushen Liu and David Giron. Counsel Kiara L. Rankin and associates Liang Zhang and Rebecca A. Rosen provided tax advice. All members of the Davis Polk team are based in the New York office.