New Issue: MercadoLibre, Inc. (MELI) $300 Million Senior Convertible Notes Due 2019

Mercadolibre’s new convertible has much, at first glance, to recommend. As essentially the only debt on a $4 billion market cap company, the $300 million deal easily meets Hillside’s guidelines for deal size. The five-year bullet structure, like vanilla ice cream, always works. And the optics are pretty old-school: the midpoints of 2.5% coupon and 35% premium go a long way these days.

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