Mercado Lending, the credit arm of Mercado Pago, debuted in the Mexican debt market with a MXN 3,750 million placement on BIVA, its first issuance under a program of up to MXN 30,000 million.
Key terms
- Issuer: Mercado Lending, S.A. de C.V. (Mercado Pago / Mercado Libre)
- Exchange: BIVA
- Date: September 29, 2026
- Amount: MXN 3,750 million, within a MXN 30,000 million program
- Tranches: MELIMX 26: MXN 1,050 million, 3 years, TIIE de Fondeo + 130 bp. MELIMX 26-2: MXN 2,700 million, 5 years, fixed 10.54%
- Ratings: AAA(mex) Fitch; HR AAA
- Use of proceeds: Funding for cards, personal loans and SME credit; extending the maturity profile
Our take
A large fintech lender choosing the local bond market over bank lines alone confirms that diversified funding is now a competitive advantage in consumer and SME credit. The combination of a floating 3-year tranche and a fixed 5-year tranche is a textbook way to match funding to the duration of a loan book.
Sources: Expansión; El CEO; El Cronista.
Congratulations to Mercado Pago and to everyone who made this placement possible.
Information from public sources. The mention does not imply Borax Capital’s participation in the transaction.
This content is for informational purposes only and does not constitute investment advice or an offer of securities.
