MercadoLibre's Capped Call Transactions
March 16, 2018
Cleary Gottlieb acted as counsel to MercadoLibre, Inc. in capped call transactions entered into with multiple financial institutions.
The capped call transactions closed on March 7, 2018. Cleary had also represented MercadoLibre, Inc. in its previous capped call transactions with multiple financial institutions, which closed on September 14, 2017. Each of these capped call transactions were entered into in connection with MercadoLibre, Inc.’s 2.25 percent convertible senior notes due 2019, which were issued on June 30, 2014. The capped call transactions provide MercadoLibre, Inc. a partial hedge to its obligations to investors under these convertible notes.
MercadoLibre, Inc. hosts one of the largest online commerce platform in Latin America, focused on enabling e-commerce and related services. It is a market leader in e-commerce in Argentina, Brazil, Chile, Colombia, Costa Rica, Ecuador, Mexico, Peru, Uruguay and Venezuela and has a market capitalization of approximately $18 billion.