MercadoLibre to redeem $439M of 2.00% Convertible Notes due 2028, saving ~$44M interest

MERCADOLIBRE INC

$439,075,000 principal of 2.00% Convertible Senior Notes due 2028 will be redeemed on November 14, 2023.
Holders may convert by Nov 13, 2023; each $1,000 principal converts into 2.2952 shares of MELI common stock.
Conversion rate includes an additional 0.0399 shares per $1,000 due to the redemption call.
CFO states retiring the notes will save approximately $44 million in interest expense otherwise payable to maturity.
MercadoLibre will settle conversions using treasury shares purchased in open market or from hedging instruments.

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