MercadoLibre shares fell Wednesday as the company launched its third global debt offering. The Latin American e-commerce firm is issuing dollar-denominated notes maturing in 2036. Reports indicate the total offering size could reach $1.5 billion.
The company will use the proceeds for general corporate purposes. Fitch, S&P, and Moody’s assigned the new bonds their lowest investment-grade ratings.
The stock’s decline exceeded the broader market's downward movement. Investors sold shares in response to increased leverage on the company's balance sheet.