Scarcity value draws buyers to MercadoLibre convertible

Scarcity value draws buyers to MercadoLibre convertible

Bonds

Online retailer MercadoLibre raised $300m from a convertible bond sale on Tuesday. The convert was heard to be priced with a 2.25% coupon, the tight end of 2.25% to 2.75% pricing indications. It offered a 35% conversion premium, within the 32.5% to 37.5% range indicated. A 10% greenshoe could be allocated in the coming days. The deal is understood to have attracted interest from convertible bond investors as well as international equity buyers. The rarity of Latin American convertible bonds is t

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