eBay Inc. (NASDAQ:EBAY) today announced the pricing of a $1.5 billion
underwritten public offering of its senior unsecured notes, consisting
of $750 million of 2.500% Notes due 2018 (the “2018 Notes”) and $750
million of 3.800% Notes due 2022 (the “2022 Notes”). The public offering
price of the 2018 Notes was 99.897% of the principal amount and the
public offering price of the 2022 Notes was 99.772% of the principal
amount. The offering is expected to close on March 9, 2016, subject to
customary closing conditions.
eBay intends to use the net proceeds from the offering for general
corporate purposes, which may include capital expenditures, share
repurchases, repayment of indebtedness and possible acquisitions.
The offering is being made through an underwriting syndicate led by J.P.
Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Morgan Stanley & Co. LLC, Wells Fargo Securities, LLC,
Citigroup Global Markets Inc. and Deutsche Bank Securities Inc., as
joint book-running managers, and BNP Paribas Securities Corp., Credit
Suisse Securities (USA) LLC, Goldman, Sachs & Co., HSBC Securities (USA)
Inc., Mitsubishi UFJ Securities (USA), 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 J.P. Morgan Securities
LLC, Attention: Investment Grade Syndicate Desk, 383 Madison Avenue, New
York, NY 10179, Telephone: 1-212-834-4533, Merrill Lynch, Pierce, Fenner
& Smith Incorporated, Attention: Prospectus Department, 222 Broadway,
11th Floor, New York, NY 10038, Telephone: 1-800-294-1322, Morgan
Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street,
2nd Floor, New York, NY 10014, Telephone: 1-866-718-1649 or Wells Fargo
Securities, LLC, Attention: WFS Customer Service, 608 2nd Avenue, South
Minneapolis, MN 55402, Telephone: 1-800-645-3751.
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 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. (the “company”)
and its consolidated subsidiaries 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. 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.
Undue reliance should not be placed on the forward-looking statements in
this release, which are based on information available to eBay on the
date hereof. eBay assumes no obligation to update such statements.
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