SAN JOSE, Calif., Oct 21, 2010 (BUSINESS WIRE) -- eBay Inc. (NASDAQ:EBAY) today announced the pricing of a $1.5 billion
underwritten public offering of its senior Notes, consisting of $400
million of 0.875% Notes due 2013 (the "2013 Notes"), $600 million of
1.625% Notes due 2015 (the "2015 Notes") and $500 million of 3.250%
Notes due 2020 (the "2020 Notes"). The public offering price of the 2013
Notes was 99.793% of the principal amount, the public offering price of
the 2015 Notes was 99.630% of the principal amount, and the public
offering price of the 2020 Notes was 99.420% of the principal amount, in
each case plus accrued interest, if any. The offering is expected to
close on October 28, 2010.
eBay intends to use the net proceeds from the offering for general
corporate purposes, which may include working capital, acquisitions and
capital expenditures.
The offering is being made through an underwriting syndicate led by Banc
of America Securities LLC, Citigroup Global Markets Inc. and J.P. Morgan
Securities LLC, as joint book-running managers, and Credit Suisse
Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman, Sachs &
Co., HSBC Securities (USA) Inc., Morgan Stanley & Co. Incorporated, RBS
Securities Inc. and Wells Fargo Securities, LLC, as co-managers. A copy
of the prospectus supplement and prospectus related to the offering may
be obtained by contacting Banc of America Securities LLC at
1-800-294-1322, Citigroup Global Markets Inc. at 1-877-858-5407 or J.P.
Morgan Securities LLC at 1-212-834-4533.
These securities are offered pursuant to a registration statement that
has become effective under the Securities Act. These securities are only
offered by means of the prospectus supplement and prospectus related to
the offering. This press release shall not constitute an offer to sell
or the solicitation of an offer to buy, nor shall there be any 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 that are based on
the Bay's current expectations, forecasts and assumptions and involve
risks and uncertainties. The company's 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: the further impact of the credit crisis and the sovereign
debt crisis in Europe, continued or worsening economic downturn and
other changes in political, business and economic conditions, including
any conditions that affect consumer confidence or ecommerce growth;
fluctuations in foreign currency exchange rates; the company's ability
to profitably integrate, manage and grow businesses that have been
acquired recently or may be acquired in the future; the company's need
to increasingly achieve growth from its existing users, particularly in
its more established markets; the company's ability to deal with the
increasingly competitive ecommerce environment, including competition
for its sellers from other trading sites and other means of selling, and
competition for its buyers from other merchants, online and offline; 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 effect of management changes and business initiatives;
the company's need and ability to manage other regulatory, tax and
litigation risks as its services are offered in more jurisdictions and
applicable laws become more restrictive; any changes the company may
make to its product offerings; the competitive, regulatory, credit card
association-related, and other risks specific to PayPal and Bill Me
Later, especially as PayPal continues to expand geographically and grow
its open platform initiative; the company's ability to upgrade and
develop its systems, infrastructure and customer service capabilities at
reasonable cost; and the company's ability to maintain site stability
and performance on all of its sites while adding new products and
features in a timely fashion. The forward-looking statements 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 press release, which are based on information available to the
company on the date hereof. eBay assumes no obligation to update such
statements.
SOURCE: eBay Inc.
eBay Inc.
Press Hotline
press@ebay.com
or
John Pluhowski, 408-376-7458
jpluhowski@ebay.com
Copyright Business Wire 2010