SAN
JOSE, Calif., Nov. 7, 2022
/PRNewswire/ -- eBay Inc. (Nasdaq: EBAY) (the "Company" or "eBay")
announced today the pricing of a $1,150,000,000 underwritten public offering of
its senior unsecured notes, consisting of $425,000,000 of 5.900% Notes due 2025 (the "2025
Notes"), $300,000,000 of 5.950% Notes
due 2027 (the "2027 Notes") and $425,000,000 of 6.300% Notes due 2032 (the "2032
Notes"). The public offering price of the 2025 Notes is 99.883% of
the principal amount, the public offering price of the 2027 Notes
is 99.863% of the principal amount and the public offering price of
the 2032 Notes is 99.934% of the principal amount, in each case
plus accrued interest, if any. The offering is expected to close on
November 22, 2022, subject to the
satisfaction of customary closing conditions.
eBay intends to use all or a substantial portion of the net
proceeds from the offering to redeem all outstanding floating rate
notes due 2023 and 2.750% fixed rate notes due 2023, with any
remaining net proceeds to be used for general corporate purposes,
which may include capital expenditures, share repurchases,
repayment of other indebtedness and possible acquisitions.
The offering is being made through an underwriting syndicate led
by BofA Securities, Inc., HSBC Securities (USA) Inc. and Wells Fargo Securities, LLC as
joint book-running managers, and BNP Paribas Securities Corp.,
Citigroup Global Markets Inc., Credit Suisse Securities
(USA) LLC, Deutsche Bank
Securities Inc., Goldman Sachs & Co. LLC, J.P. Morgan
Securities LLC, Morgan Stanley & Co. LLC, RBC Capital Markets,
LLC, Standard Chartered Bank, Mischler Financial Group, Inc.,
Penserra Securities LLC and Siebert
Williams Shank & Co., LLC as co-managers. Copies
of the prospectus supplement and prospectus related to the offering
may be obtained by contacting BofA Securities, Inc., at: 200 North
College Street, NC1-004-03-43, Charlotte,
North Carolina 28255-0001, Attn: Prospectus Department,
Email: dg.prospectus_requests@bofa.com, Toll-Free: 1-800-294-1322;
HSBC Securities (USA) Inc., by
telephone at 1-866-811-8049; 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 email at
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.
About eBay
eBay Inc. (Nasdaq: EBAY) is a global commerce leader that
connects people and builds communities to create economic
opportunity for all. Our technology empowers millions of buyers and
sellers in more than 190 markets around the world, providing
everyone the opportunity to grow and thrive. Founded in 1995 in
San Jose, California, eBay is one
of the world's largest and most vibrant marketplaces for
discovering great value and unique selection. In 2021, eBay enabled
over $87 billion of gross merchandise
volume. For more information about the company and its global
portfolio of online brands, visit www.ebayinc.com.
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 that are based on the company's current
expectations, forecasts and assumptions and involve risks and
uncertainties. These statements include, but are not limited to,
statements regarding the planned closing of and expected use of
proceeds from the company's senior unsecured notes offering as
described above. Actual results could differ materially from those
predicted or implied and reported results should not be considered
as an indication of future performance. Other factors that could
cause or contribute to such differences include, but are not
limited to: changes in political, business and economic conditions,
including impacts from the ongoing war in Ukraine, rising inflation and interest rates,
decreases in consumer confidence, the effects of COVID-19 on our
business and operations and on the general economy, including
effects on our sellers and customers, any regional or general
economic downturn or crisis and any conditions that affect
e-commerce growth or cross-border trade; the company's ability to
realize expected growth opportunities in payments intermediation
and advertising; 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 its business;
changes to the company's capital allocation, including the timing,
declaration, amount and payment of any future dividends or levels
of the company's share repurchases, or management of operating
cash; the company's ability to increase operating efficiency to
drive margin improvements and enable reinvestments; 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 a large enterprise with a broad range of businesses
of varying degrees of maturity and in many different geographies;
the ability to successfully intermediate payments on our
marketplace platform; the company's need and ability to manage
regulatory, tax, data security and litigation risks; 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.
The forward-looking statements in this release do not include
the potential impact of any acquisitions or divestitures that may
be announced and/or completed after the date hereof.
More information about factors that could affect the company's
operating results is included under the captions "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 reports 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.
Undue reliance should not be placed on the forward-looking
statements in this press release, which are based on information
available to the company on the date hereof. The company assumes no
obligation to update such statements.
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SOURCE eBay Inc.