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MercadoLibre: A Credit Look into the Latin American Rising Star
Initiation Reports

MercadoLibre: A Credit Look into the Latin American Rising Star

We are optimistic about MELI’s overall financial and business risks.

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EM Spreads
May 21, 2024
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MercadoLibre: A Credit Look into the Latin American Rising Star
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Executive Summary

  • We are initiating coverage on MercadoLibre with a preference for MELI 2.375% 2026 bonds.  We are optimistic about MELI’s overall financial and business risks.

    • For EM investors, we prefer MELI 2026 2.375% notes with a 10-30 bps compression potential. These bonds are trading wide compared to the Brazilian Sovereign, the EM BBB Index, and t…

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