• The issue will be made in two tranches – one for five years and the other for 10 years;
• The funding will be used to refinance current debts.

Mercado Libre, the largest e-commerce portal in Latin America, is preparing a bond issue of about $1 billion, Moody’s said on Monday.

According to IFR, Refinitiv’s service, the issue will be made in two tranches – one for five years and the other for 10 years. The transaction is being conducted by BNP Paribas, Bank of America, Citigroup, Goldman Sachs, and JPMorgan.

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Talks with investors are due to conclude on Wednesday, with pricing coming out the next day.

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In a report, the credit rating agency rated Ba1 for the proposed issue, with a stable outlook. According to the document, the funding will be used to refinance current debts, for corporate purposes, including green and social projects.

(Translated by LABS)