SAN JOSE, Calif., May 3, 2021 /PRNewswire/ -- eBay Inc. (Nasdaq:
EBAY) (the "Company" or "eBay") announced today the pricing of a
$2,500,000,000 underwritten public
offering of its senior unsecured notes, consisting of $750,000,000 of 1.400% Notes due 2026 (the "2026
Notes"), $750,000,000 of 2.600% Notes
due 2031 (the "2031 Notes") and $1,000,000,000 of 3.650% Notes due 2051 (the
"2051 Notes"). The public offering price of the 2026 Notes is
99.870% of the principal amount, the public offering price of the
2031 Notes is 99.956% of the principal amount and the public
offering price of the 2051 Notes is 99.909% of the principal
amount, in each case plus accrued interest, if any. The offering is
expected to close on May 10, 2021,
subject to customary closing conditions.
eBay intends to use all or a substantial portion of the net
proceeds from the offering to repay $750
million of its outstanding 3.80% Notes due 2022 and about
$600 million of its outstanding 2.60%
Notes due 2022, 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 Citigroup Global Markets Inc., Deutsche Bank Securities Inc.,
Goldman Sachs & Co. LLC, HSBC Securities (USA) Inc., BofA Securities, Inc., J.P. Morgan
Securities LLC and RBC Capital Markets, LLC as joint book-running
managers, and BNP Paribas Securities Corp., Credit Suisse
Securities (USA) LLC, Mischler
Financial Group, Inc., Morgan Stanley & Co. LLC, Penserra
Securities LLC, Standard Chartered Bank, Siebert Williams Shank & Co., LLC and Wells
Fargo Securities, LLC 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, email: prospectus@citi.com; Deutsche Bank
Securities Inc., Attention: Prospectus Group, 60 Wall Street,
New York, NY 10005-2836,
telephone: 1-800-503-4611, email:
prospectus.CPDG@db.com; Goldman Sachs & Co. LLC,
Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526
/ 1-212-902-1171; facsimile: 212-902-9316, email:
Prospectus-ny@ny.email.gs.com; or HSBC Securities
(USA) Inc., 452 Fifth Avenue,
New York, NY 10018, Attention:
Transaction Management Group, telephone: 1-866-811-8049, email:
tmg.americas@us.hsbc.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 millions of buyers and sellers in 190 markets around the
world. We exist to enable economic opportunity for individuals,
entrepreneurs, businesses and organizations of all sizes. 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 2020, eBay
enabled $100 billion of gross
merchandise volume.
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 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, the duration of the COVID-19 pandemic and 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; 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.