In the midst of the global coronavirus pandemic, Marcus Galperin, Argentine businessman and founder of Mercado Libre unicorn, is once again in the news and demonstrating his excellent present.
On this occasion, Galperin went to two hands, and to his amazement he found a figure much higher than he had imagined.
Galperin went on to pay off $ 1,100 million in debts and bid $ 12,500 million. Given the unexpected number, the businessman could have decided that he would pay interest at 3 per cent for ten years.
More precisely, the company has secured $ 400 million in financing over five years, along with another $ 700 million, over ten years, according to Iproup.
Thus, Mercado Libre offered five and ten-year bonds, at rates of 2.37 percent and 3.15 percent, respectively. The ten-year rate is nearly six times what Argentina would have to pay if it were to place debt in international markets of similar duration (16 per cent) today, if the current value of its sovereign bonds was taken into account.
Following this news, Mercado Libre (MELI) shares on Wall Street grew 1.65 percent, to $ 1,597 a unit.
In this way, the company’s market value grew again to reach $ 79,542 million, meaning its market value is greater than all the Argentine companies listed together on the New York Stock Exchange.