Latin America Retail: LatAm Retail Headline Monitor: MELI Eyes MXN30bn Funding; Brazil Supermarkets Step Up Promotions

First-page research excerpt

Flash |

31 Jul 2026 08:16:03 ET │ 10 pages

Latin America Retail

LatAm Retail Headline Monitor: MELI Eyes MXN30bn Funding; Brazil

Supermarkets Step Up Promotions

CITI'S TAKE

In this note, we summarize headlines/news with implications for our

coverage. We hope you find this useful.

João Pedro SoaresAC

Mercado Libre Targets BMV and BIVA for MXN 30 Billion to Expand Its Lending

Business (07/30/2026, El CEO)

Felipe Husein

Mercado Libre’s lending arm, Mercado Lending, is preparing a MXN 30 billion debt

program on the Mexican Stock Exchange (BMV) and the Institutional Stock

Exchange (BIVA), potentially launching after the summer to fund the expansion of its

credit business. The program may be deployed through multiple issuances, with

BBVA México, HSBC, and Santander México acting as placement agents; an initial

transaction of up to MXN 5 billion is reportedly being prepared in two tranches with

three- and five-year maturities. The plans come as Mercado Pago awaits regulatory

approval for a Mexican banking license, a process initiated in 2024 that was delayed

by concerns regarding its technology infrastructure but is expected to move forward

soon.

Citi's Take: We view the news as strategically positive, as it reinforces Mercado

Libre’s efforts to diversify funding sources and build a more scalable local funding

structure in one of its largest fintech markets. In our view, this further supports the

company’s ability to sustain a high pace of credit origination across its key

geographies.

Supermarkets Increase Promotional Activity, Abras Says⁠(07/30/2026, Valor

Econômico)

The Brazilian Association of Supermarkets (Abras) said supermarkets are opening

new stores with a higher level of promotional activity than in 2025, alongside a

faster pace of store openings. According to Abras, the association is monitoring

whether the increase in promotions represents a lasting trend. Abras attributed the

current environment to higher household indebtedness, the growth of sports betting

and the expansion of Brazil’s new payroll-deductible loan program, which have

affected consumers’ disposable income.