Overview
- Mercado Lending, Mercado Libre’s Mexican credit unit, placed 3,750 million pesos of long-term Certificados Bursátiles (CEBURES) on BIVA on Tuesday, marking the company’s first public debt issuance in Mexico.
- The company said the proceeds will be used to support Mercado Pago’s consumer and merchant credit products, broaden funding sources, and extend the company’s debt repayment profile.
- Fitch Ratings and HR Ratings assigned the notes top national scores of AAA(mex) and AAA HR, reflecting local agencies’ view of the issue’s credit standing.
- Institutional investors bought the deal, including Afores, insurers, development banks, qualified investment funds, corporate treasuries, and private banks, and placement banks reported included BBVA Mexico, Santander and HSBC with Banco Multiva as common representative.
- Analysts note this move follows a Moody’s report in early September that flagged rapid fintech credit growth — a $16.4 billion portfolio at June 2026 and rising adjusted debt/EBITDA — which increases funding and asset-quality risks even as Mercado Libre retains strong cash and marketable securities balances.