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LOANS PAYABLE AND OTHER FINANCIAL LIABILITIES
 9 Months Ended
Sep. 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 September 30, 2025 and December 31, 2024:
September 30, 2025December 31, 2024
(In millions)
Loans from banks$729 $946 
Bank overdrafts26 26 
Secured lines of credit156 110 
Financial Bills210 7 
Deposit Certificates1,542 1,068 
Commercial Notes2 5 
Finance lease liabilities
42 41 
Collateralized debt1,311 610 
2026 Sustainability Notes365 4 
2031 Notes4 8 
Debt securities
41 — 
Other lines of credit3 3 
Current loans payable and other financial liabilities$4,431 $2,828 
Loans from banks$770 $217 
Secured lines of credit2 6 
Financial Bills378 271 
Deposit Certificates2 2 
Commercial Notes204 170 
Finance lease liabilities70 81 
Collateralized debt1,449 1,232 
2026 Sustainability Notes— 362 
2031 Notes533 546 
Other lines of credit1 — 
Non-Current loans payable and other financial liabilities$3,409 $2,887 
Type of instrumentCurrencyInterestWeighted Average Interest Rate MaturitySeptember 30, 2025December 31, 2024





 (In millions)
Loans from banks
Chilean SubsidiariesChilean PesosFixed5.96%October 2025 - September 2026$179 $134 
Brazilian SubsidiaryBrazilian Reais———— 44 
Brazilian Subsidiary (1)
US DollarFixed5.30%October 2025 - October 2026449 211 
Brazilian Subsidiary (1)
EurosFixed3.99%November 2025 - November 202683 190 
Brazilian SubsidiaryBrazilian ReaisVariable
TJLP + 0.80%
October 2025 - May 203121 20 
Mexican SubsidiariesMexican PesosVariable
TIIE + 1.80% - 2.60%
October 2025 - March 2030678 512 
Uruguayan SubsidiaryUruguayan PesosFixed8.74%October - November 202589 52 
Bank overdrafts
Uruguayan SubsidiaryUruguayan PesosFixed9.19%October 202526 15 
Chilean SubsidiaryChilean Pesos———— 11 
Secured lines of credit
Argentine Subsidiaries (2)
Argentine PesosFixed52.49%October 2025148 102 
Mexican SubsidiaryMexican PesosFixed11.08%October 2025 - July 202710 14 
Financial Bills
Brazilian SubsidiaryBrazilian ReaisVariable
CDI + 0.45% - 0.95%
March 2026 - April 2028588 278 
Deposit Certificates
Brazilian SubsidiaryBrazilian ReaisVariable
CDI + 0.19% - 0.55%
October 2025 - September 2026900 331 
Brazilian SubsidiaryBrazilian ReaisVariable
95.5% to 130.0% of CDI
October 2025 - June 2027612 703 
Brazilian SubsidiaryBrazilian ReaisFixed
14.34% - 15.36%
October 2025 - March 202632 36 
Commercial Notes
Brazilian SubsidiaryBrazilian ReaisVariable
DI + 0.88%
October 2025 - August 202769 60 
Brazilian SubsidiaryBrazilian ReaisVariable
IPCA + 6.41%
October 2025 - August 2029137 115 
Finance lease liabilities112 122 
Collateralized debt2,760 1,842 
2026 Sustainability NotesUS DollarFixed2.375% January 2026365 366 
2031 NotesUS DollarFixed3.125%January 2026 - January 2031537 554 
Debt securitiesArgentine PesosVariable
TAMAR + 2.85%
October 2025 - July 202641 — 
Other lines of credit4 3 
$7,840 $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.
(2) As of September 30, 2025, includes $9 million secured by a compensating balance agreement signed by MercadoLibre S.R.L.
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 nine and three-month periods ended September 30, 2024, the Company recognized $8 million and $3 million as a gain in Interest income and other financial gains in the interim condensed consolidated statements of income, respectively. During the nine-month period ended September 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 nine-month period ended September 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. During the three-month period ended September 30, 2025, the Company did not repurchase 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.
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.
On September 12, 2025, the Company entered into Amendment No. 1 (the "First Amendment") to the Amended and Restated Revolving Credit Agreement (as amended by the First Amendment, the “Amended Credit Agreement”) with the lenders party thereto and the guarantors. The First Amendment permits the Company to request, at one or more times, that existing and/or new lenders provide, at their election, up to $400 million of additional commitments, for an aggregate principal amount of credit commitments of up to $800 million. The Company’s obligations under the Amended Credit Agreement remain guaranteed on an unsecured basis by the guarantors. All other obligations of the Company under the Amended Credit Agreement remain unchanged.
The interest rates under the Amended 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 Credit Agreement. Any loans drawn from the Amended 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 Credit Agreement), as further provided in the Amended 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 Credit Agreement.
As of September 30, 2025, no amounts have been borrowed under the facility.