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LOANS PAYABLE AND OTHER FINANCIAL LIABILITIES
 3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
LOANS PAYABLE AND OTHER FINANCIAL LIABILITIES LOANS PAYABLE AND OTHER FINANCIAL LIABILITIES
The following tables summarize the Company’s Loans payable and other financial liabilities as of March 31, 2025 and December 31, 2024:
March 31, 2025December 31, 2024
(In millions)
Loans from banks$1,045 $946 
Bank overdrafts— 26 
Secured lines of credit138 110 
Financial Bills27 7 
Deposit Certificates1,076 1,068 
Commercial Notes6 5 
Finance lease liabilities
39 41 
Collateralized debt864 610 
2026 Sustainability Notes364 4 
2031 Notes4 8 
Other lines of credit6 3 
Current loans payable and other financial liabilities$3,569 $2,828 
Loans from banks$361 $217 
Secured lines of credit5 6 
Financial Bills455 271 
Deposit Certificates2 2 
Commercial Notes186 170 
Finance lease liabilities76 81 
Collateralized debt1,232 1,232 
2026 Sustainability Notes— 362 
2031 Notes546 546 
Other lines of credit1 — 
Non-Current loans payable and other financial liabilities$2,864 $2,887 
Type of instrumentCurrencyInterestWeighted Average Interest Rate MaturityMarch 31, 2025December 31, 2024





 (In millions)
Loans from banks
Chilean SubsidiariesChilean PesosFixed6.53%April 2025 - June 2026$187 $134 
Brazilian SubsidiaryBrazilian Reais———— 44 
Brazilian Subsidiary (1)
US DollarFixed5.47%October 2025 - March 2026289 211 
Brazilian Subsidiary (1)
EurosFixed4.16%September 2025 - November 2026201 190 
Brazilian SubsidiaryBrazilian ReaisVariable
TJLP + 0.80%
April 2025 - May 203120 20 
Mexican SubsidiariesMexican PesosVariable
TIIE + 1.59% - 3.50%
April 2025 - March 2030635 512 
Uruguayan SubsidiaryUruguayan PesosFixed9.28%April - August 202574 52 
Bank overdrafts
Uruguayan SubsidiaryUruguayan Pesos———— 15 
Chilean SubsidiaryChilean Pesos———— 11 
Secured lines of credit
Argentine SubsidiariesArgentine PesosFixed30.15%April 2025131 102 
Mexican SubsidiaryMexican PesosFixed10.91%April 2025 - July 202712 14 
Financial Bills
Brazilian SubsidiaryBrazilian ReaisVariable
CDI + 0.45% - 1.40%
April 2025 - March 2028482 278 
Deposit Certificates
Brazilian SubsidiaryBrazilian ReaisVariable
CDI + 0.15% - 0.69%
April 2025 - January 2026376 331 
Brazilian SubsidiaryBrazilian ReaisVariable
97.5% to 109.0% of CDI
April 2025 - January 2027646 703 
Brazilian SubsidiaryBrazilian ReaisFixed
11.46% - 15.22%
April - September 202556 36 
Commercial Notes
Brazilian SubsidiaryBrazilian ReaisVariable
DI + 0.88%
April 2025 - August 202763 60 
Brazilian SubsidiaryBrazilian ReaisVariable
IPCA + 6.41%
April 2025 - August 2029129 115 
Finance lease liabilities115 122 
Collateralized debt2,096 1,842 
2026 Sustainability NotesUS DollarFixed2.375%July 2025 - January 2026364 366 
2031 NotesUS DollarFixed3.125%July 2025 - January 2031550 554 
Other lines of credit7 3 
$6,433 $5,715 
(1) The carrying amount includes the effect of the derivative instruments that qualified for fair value hedge accounting. See Note 15 – Derivative instruments for further detail.
See Note 13 – Securitization transactions and Note 14 – Leases to these unaudited interim condensed consolidated financial statements for details regarding the Company’s collateralized debt securitization transactions and finance lease obligations, respectively.
2.375% Sustainability Senior Notes Due 2026 and 3.125% Senior Notes Due 2031
On January 14, 2021, the Company closed a public offering of $400 million aggregate principal amount of the 2026 Sustainability Notes and $700 million aggregate principal amount of the 2031 Notes, and together with the 2026 Sustainability Notes, the “Notes.”
During 2024, the Company repurchased $27 million and $81 million in principal amount of the outstanding 2026 Sustainability Notes and 2031 Notes, respectively. The total amount paid during 2024 for those repurchases amounted to $98 million. During the three-month period ended March 31, 2025, the Company did not make repurchases of the 2026 Sustainability Notes or the 2031 Notes.
Certain of the Company’s subsidiaries (the “Subsidiary Guarantors”) fully and unconditionally guarantee the payment of principal, premium, if any, interest, and all other amounts in respect of each of the Notes (the “Subsidiary Guarantees”). The initial Subsidiary Guarantors were MercadoLibre S.R.L., Ibazar.com Atividades de Internet Ltda., eBazar.com.br Ltda., Mercado Envios Servicos de Logistica Ltda., Mercado Pago Instituição de Pagamento Ltda. (formerly known as “MercadoPago.com Representações Ltda.”), MercadoLibre Chile Ltda., MercadoLibre, S.A. de C.V., Institución de Fondos de Pago Electrónico (formerly known as “MercadoLibre, S. de R.L. de C.V.”), DeRemate.com de México, S. de R.L. de C.V. and MercadoLibre Colombia Ltda. On October 27, 2021, MercadoLibre, S.A. de C.V., Institución de Fondos de Pago Electrónico became an excluded subsidiary pursuant to the terms of the Notes and it was released from its Subsidiary Guaranty. On October 27, 2021, MP Agregador, S. de R.L. de C.V. became a Subsidiary Guarantor under the Notes. On July 1 and October 1, 2022, Ibazar.com Atividades de Internet Ltda. and Mercado Envios Servicos de Logistica Ltda. were merged into eBazar.com.br Ltda, respectively. On May 2, 2025, as a result of the spin-off of DeRemate.com de México, S. de R.L. de C.V. completed in January 2025 (the “DeRemate Spinoff”), MPFS, S. de R.L. de C.V. became a Subsidiary Guarantor under the Notes.
For additional information regarding the 2026 Sustainability Notes and the 2031 Notes please refer to Note 18 to the audited consolidated financial statements for the year ended December 31, 2024, contained in the Company’s 2024 10-K.
Amended and Restated Revolving Credit Agreement
On September 27, 2024, the Company entered into a $400 million amended and restated revolving credit agreement (the “Amended and Restated Credit Agreement”) with the lenders party thereto and the Company’s subsidiaries MercadoLibre S.R.L., Ebazar.com.br Ltda., Mercado Pago Instituição de Pagamento Ltda., DeRemate.com de Mexico S. de R.L. de C.V., MP Agregador, S. de R.L. de C.V., MercadoLibre Chile Ltda., and MercadoLibre Colombia Ltda. as initial guarantors. As a result of the DeRemate Spinoff, MPFS, S. de R.L. de C.V. will become a guarantor under the Amended and Restated Credit Agreement in accordance with its terms. The Company’s obligations under the Amended and Restated Credit Agreement are guaranteed by the guarantors, as stated before.
The interest rates under the Amended and Restated Credit Agreement are based on Term SOFR (“Secured Overnight Funding Rate”) plus an interest margin of 1.00% per annum, which may be decreased to 0.90% per annum or increased to 1.15% per annum depending on the Company’s debt rating, as further provided under the Amended and Restated Credit Agreement. Any loans drawn from the Amended and Restated Credit Agreement must be repaid on or prior to September 27, 2028, which will be automatically extended to September 27, 2029 upon satisfaction, on or prior to August 28, 2027, of the Maturity Extension Conditions (as defined in the Amended and Restated Credit Agreement), as further provided in the Amended and Restated Credit Agreement. The Company is also obligated to pay a commitment fee on the unused amounts of the facility at a rate per annum equal to 25% of the then Applicable Margin, depending on the Company’s debt rating, as further provided under the Amended and Restated Credit Agreement.
As of March 31, 2025, no amounts have been borrowed under the facility.