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eBay to Sell Unsecured Notes to Raise Funds

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eBayeBay priced an offering of senior unsecure notes that will raise funds for general corporate purposes, which may include repayment of indebtedness, capital expenditures, share repurchases, and possible acquisitions.

An excerpt of the press release follows:

eBay Inc. Prices $2.5 Billion Senior Unsecured Notes Offering
eBay Inc. 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”).

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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.

Source: eBay Corporate Blog Post

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Ina Steiner

Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. Send news tips to ina@ecommercebytes.com.


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