SAN JOSE, Calif., May 30, 2017 /PRNewswire/ -- eBay Inc.
(NASDAQ:EBAY) today announced the pricing of a $2.5 billion underwritten public offering of its
senior unsecured notes, consisting of $400
million of Floating Rate Notes due 2023 (the "2023 Floating
Rate Notes"), $500 million of 2.150%
Notes due 2020 (the "2020 Fixed Rate Notes"), $750 million of 2.750% Notes due 2023 (the "2023
Fixed Rate Notes") and $850 million
of 3.600% Notes due 2027 (the "2027 Fixed Rate Notes"). The public
offering price of the 2023 Floating Rate Notes is 100% of the
principal amount, the public offering price of the 2020 Fixed Rate
Notes is 99.899% of the principal amount, the public offering price
of the 2023 Fixed Rate Notes is 99.955% of the principal amount and
the public offering price of the 2027 Fixed Rate Notes is 99.917%
of the principal amount, in each case plus accrued interest, if
any. The offering is expected to close on June 6, 2017, subject to customary closing
conditions.
eBay intends to use the net proceeds from the offering for
general corporate purposes, which may include repayment of
indebtedness, capital expenditures, share repurchases, and possible
acquisitions.
The offering is being made through an underwriting syndicate led
by Citigroup Global Markets Inc., Deutsche Bank Securities Inc.,
Goldman Sachs & Co. LLC, Wells Fargo Securities, LLC, J.P.
Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith
Incorporated and Morgan Stanley & Co. LLC, as joint
book-running managers, and BNP Paribas Securities Corp., Credit
Suisse Securities (USA) LLC, HSBC
Securities (USA) Inc., Lebenthal
& Co., LLC, MUFG Securities Americas Inc., RBC Capital Markets,
LLC, Standard Chartered Bank and The Williams Capital Group, L.P.,
as co-managers. Copies of the prospectus supplement and
prospectus related to the offering may be obtained by contacting
Citigroup Global Markets Inc. c/o Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood
NY 11717, telephone: 1-800-831-9146, or by emailing
prospectus@citi.com; Deutsche Bank Securities Inc., attention:
Prospectus Group, 60 Wall Street, New
York, NY 10005-2836, telephone: 1-800-503-4611, or by
emailing prospectus.cpdg@db.com; Goldman Sachs & Co. LLC,
attention: Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526,
facsimile: 1-212-902-9316 or by emailing
prospectus-ny@ny.email.gs.com; or Wells Fargo Securities, LLC,
attention: WFS Customer Service, 608 2nd Avenue South, Suite 1000,
Minneapolis, MN 55402, telephone:
1-800-645-3751 or by emailing:
wfscustomerservice@wellsfargo.com.
The offering is being made pursuant to an effective shelf
registration statement under the Securities Act of 1933, as
amended, and these securities are only being offered by means of
the prospectus supplement and prospectus related to the offering,
which have been or will be filed with the Securities and Exchange
Commission. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy, nor shall there be any
offer or sale of these securities, in any state or other
jurisdiction where, or to any person to whom, the offer,
solicitation or sale of these securities would be unlawful prior to
the registration or qualification under the securities laws of any
such state or other jurisdiction.
Forward-Looking Statements
This press release contains forward-looking statements relating
to, among other things, the future performance of eBay Inc. and its
consolidated subsidiaries (collectively, the "company") that are
based on the company's current expectations, forecasts and
assumptions and involve risks and uncertainties. Actual results
could differ materially from those predicted or implied and
reported results should not be considered as an indication of
future performance. Factors that could cause or contribute to such
differences include, but are not limited to: changes in political,
business and economic conditions, any regional or general economic
downturn or crisis and any conditions that affect ecommerce growth
or cross-border trade; fluctuations in foreign currency exchange
rates; the company's need to successfully react to the increasing
importance of mobile commerce and the increasing social aspect of
commerce; an increasingly competitive environment for the company's
business; changes to the company's capital allocation or management
of operating cash; the company's ability to manage its
indebtedness, including managing exposure to interest rates and
maintaining its credit ratings; the company's need to manage an
increasingly large enterprise with a broad range of businesses of
varying degrees of maturity and in many different geographies;
the company's need and ability to manage regulatory, tax, data
security and litigation risks; whether the operational, marketing
and strategic benefits of the separation of the eBay and PayPal
businesses can be achieved; the company's ability to timely upgrade
and develop its technology systems, infrastructure and customer
service capabilities at reasonable cost while maintaining site
stability and performance and adding new products and features; and
the company's ability to integrate, manage and grow businesses that
have been acquired or may be acquired in the future.
More information about factors that could adversely affect the
company's operating results and the market value of the notes
referenced above is included under the caption "Risk Factors" and
"Management's Discussion and Analysis of Financial Condition and
Results of Operations" in the company's most recent Annual Report
on Form 10-K and subsequent quarterly report on
Form 10-Q, copies of which may be obtained by visiting the
company's Investor Relations website at
https://investors.ebayinc.com or the SEC's website at
www.sec.gov, and under the captions "Risk Factors" in the
prospectus supplement and prospectus related to the offering. Undue
reliance should not be placed on the forward-looking statements in
this release, which are based on information available to the
Company on the date hereof. The Company assumes no obligation to
update such statements. The information contained in, or that can
be accessed through, the company's websites (including, without
limitation, the Investor Relations website mentioned in this
paragraph) is not part of this release. Any reference to the
company's websites are intended to be inactive textual references
only.
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SOURCE eBay Inc.