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LOANS PAYABLE AND OTHER FINANCIAL LIABILITIES
 6 Months Ended
Jun. 30, 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 June 30, 2025 and December 31, 2024:
June 30, 2025December 31, 2024
(In millions)
Loans from banks$996 $946 
Bank overdrafts8 26 
Secured lines of credit152 110 
Financial Bills97 7 
Deposit Certificates1,415 1,068 
Commercial Notes10 5 
Finance lease liabilities
42 41 
Collateralized debt707 610 
2026 Sustainability Notes367 4 
2031 Notes8 8 
Other lines of credit16 3 
Current loans payable and other financial liabilities$3,818 $2,828 
Loans from banks$373 $217 
Secured lines of credit4 6 
Financial Bills431 271 
Deposit Certificates4 2 
Commercial Notes198 170 
Finance lease liabilities72 81 
Collateralized debt1,868 1,232 
2026 Sustainability Notes— 362 
2031 Notes533 546 
Other lines of credit1 — 
Non-Current loans payable and other financial liabilities$3,484 $2,887 
Type of instrumentCurrencyInterestWeighted Average Interest Rate MaturityJune 30, 2025December 31, 2024





 (In millions)
Loans from banks
Chilean SubsidiariesChilean PesosFixed6.33%July 2025 - June 2026$189 $134 
Brazilian SubsidiaryBrazilian Reais———— 44 
Brazilian Subsidiary (1)
US DollarFixed5.47%October 2025 - March 2026293 211 
Brazilian Subsidiary (1)
EurosFixed4.16%September 2025 - November 2026222 190 
Brazilian SubsidiaryBrazilian ReaisVariable
TJLP + 0.80%
July 2025 - May 203121 20 
Mexican SubsidiariesMexican PesosVariable
TIIE + 1.85% - 3.50%
July 2025 - March 2030565 512 
Uruguayan SubsidiaryUruguayan PesosFixed9.30%July - November 202579 52 
Bank overdrafts
Uruguayan SubsidiaryUruguayan PesosFixed10.41%July 20258 15 
Chilean SubsidiaryChilean Pesos———— 11 
Secured lines of credit
Argentine SubsidiariesArgentine PesosFixed33.63%July 2025144 102 
Mexican SubsidiaryMexican PesosFixed11.00%July 2025 - July 202712 14 
Financial Bills
Brazilian SubsidiaryBrazilian ReaisVariable
CDI + 0.45% - 1.40%
July 2025 - April 2028528 278 
Deposit Certificates
Brazilian SubsidiaryBrazilian ReaisVariable
CDI + 0.13% - 0.65%
July 2025 - January 2026549 331 
Brazilian SubsidiaryBrazilian ReaisVariable
95.5% to 120.1% of CDI
July 2025 - June 2027819 703 
Brazilian SubsidiaryBrazilian ReaisFixed
13.92% - 15.73%
July - December 202551 36 
Commercial Notes
Brazilian SubsidiaryBrazilian ReaisVariable
DI + 0.88%
July 2025 - August 202769 60 
Brazilian SubsidiaryBrazilian ReaisVariable
IPCA + 6.41%
July 2025 - August 2029139 115 
Finance lease liabilities114 122 
Collateralized debt2,575 1,842 
2026 Sustainability NotesUS DollarFixed2.375%July 2025 - January 2026367 366 
2031 NotesUS DollarFixed3.125%July 2025 - January 2031541 554 
Other lines of credit17 3 
$7,302 $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 2.375% Sustainability Notes due 2026 (the “2026 Sustainability Notes”) and $700 million aggregate principal amount of 3.125% Notes due 2031 (the “2031 Notes” and collectively, 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. For the six and three-month periods ended June 30, 2024, the Company recognized $5 million as a gain in Interest income and other financial gains in the interim condensed consolidated statements of income. During the three-month period ended June 30, 2025, the Company repurchased $13 million in principal amount of the outstanding 2031 Notes. The total amount paid amounted to $12 million. For the six and three-month periods ended June 30, 2025, the Company recognized $1 million as a gain in Interest income and other financial gains in the interim condensed consolidated statements of income.
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. On July 23, 2025, as a result of the DeRemate Spinoff, MPFS, S. de R.L. de C.V. became 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 June 30, 2025, no amounts have been borrowed under the facility.