SAN JOSE, Calif.--(BUSINESS WIRE)--
eBay Inc. (NASDAQ:EBAY) today announced the pricing of a $3.5 billion
underwritten public offering of its senior unsecured notes, consisting
of $450 million of Floating Rate Notes due 2017 (the "2017 Floating Rate
Notes"), $400 million of Floating Rate Notes due 2019 (the "2019
Floating Rate Notes"), $1.15 billion of 2.200% Notes due 2019 (the "2019
Fixed Rate Notes"), $750 million of 2.875% Notes due 2021 (the "2021
Fixed Rate Notes") and $750 million of 3.450% Notes due 2024 (the "2024
Fixed Rate Notes"). The public offering price of the 2017 Floating Rate
Notes was 100.000% of the principal amount, the public offering price of
the 2019 Floating Rate Notes was 100.000% of the principal amount, the
public offering price of the 2019 Fixed Rate Notes was 99.788% of the
principal amount, the public offering price of the 2021 Fixed Rate Notes
was 99.779% of the principal amount, and the public offering price of
the 2024 Fixed Rate Notes was 99.899% of the principal amount. The
offering is expected to close on July 28, 2014, subject to customary
closing conditions.
eBay intends to use the net proceeds from the offering, which are
estimated to be approximately $3.48 billion, after deducting
underwriting discounts and estimated offering expenses, for general
corporate purposes, including, among other things, the repayment of
outstanding commercial paper borrowings.
The offering is being made through an underwriting syndicate led by
Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan
Stanley & Co. LLC and Wells Fargo Securities, LLC, as joint book-running
managers, and Barclays Capital Inc., BNP Paribas Securities Corp., BNY
Mellon Capital Markets, LLC, Credit Suisse Securities (USA) LLC, HSBC
Securities (USA) Inc., Mitsubishi UFJ Securities (USA), Inc., RBC
Capital Markets, LLC, RBS Securities Inc., 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 Citigroup Global Markets Inc. at 1-800-831-9146,
J.P. Morgan Securities LLC at 1-212-834-4533, Morgan Stanley & Co. LLC
at 1-866-718-1649 or Wells Fargo Securities, LLC at 1-800-326-5897.
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 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. and its
consolidated subsidiaries that are based on the company's current
expectations, forecasts and assumptions and involve risks and
uncertainties. eBay's actual results may differ materially from those
predicted or implied, and reported results should not be considered as
an indication of future performance for a variety of reasons, including,
but not limited to: changes in political, business, and economic
conditions, including any European, Asian or general economic downturn
or crisis (including sanctions related to Ukraine or Russia); foreign
exchange rate fluctuations; our need to successfully react to the
increasing importance of mobile payments and mobile commerce and the
social aspect of commerce; an increasingly competitive environment for
our businesses; changes to our capital allocation or management of
operating cash; the complexity of managing an increasingly large
enterprise with a broad range of businesses; our need to manage
regulatory, tax and litigation risks (including risks specific to PayPal
and Bill Me Later); our need to timely upgrade and develop our
technology systems, infrastructure, and customer service capabilities at
reasonable cost while maintaining site stability and performance and
adding new products and features; and our ability to integrate, manage
and grow businesses recently acquired or that 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.
eBay Inc.
Investor Relations Contact:
Tracey Ford; Tom
Hudson
tford@ebay.com; thudson@ebay.com
Media
Relations Contact:
Amanda Miller
press@ebay.com
Investor
Information Request, 408-376-7493
Company News:
http://www.ebayinc.com/news
Investor
Relations website:
http://investors.ebayinc.com
Source: eBay Inc.
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