Mercado Libre Receives Credit Facility from Goldman Sachs
New York - Paul Hastings LLP represented MercadoLibre, Inc., the leading online marketplace provider in Latin America dedicated to e-commerce, in its credit facility with Goldman Sachs Group Inc. Such facility will be used to expand MercadoLibre’s commercial lines of credit business in Mexico through its Mercado Credito unit with vendors who use the Mercado Libre and Mercado Pago platform to market and sell their products.
The financing was structured as a revolving three-year warehouse financing secured by the receivables generated by the lines of credit to the MercadoLibre vendors. This facility represents the largest loan to a fintech company for Goldman Sachs in Mexico to date. Mercado Credito launched in 2016 as a way to provide credit to Mercado Libre clients and to customers using the company’s online payment platform, Mercado Pago, in Brazil, Argentina and Mexico.
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