eBay Inc. (Nasdaq: EBAY) (the “Company” or “eBay”) announced today the pricing of a $1,150,000,000 underwritten public offering of its senior unsecured notes, consisting of $425,000,000 of 5.900% Notes due 2025 (the “2025 Notes”), $300,000,000 of 5.950% Notes due 2027 (the “2027 Notes”) and $425,000,000 of 6.300% Notes due 2032 (the “2032 Notes”). The public offering price of the 2025 Notes is 99.883% of the principal amount, the public offering price of the 2027 Notes is 99.863% of the principal amount and the public offering price of the 2032 Notes is 99.934% of the principal amount, in each case plus accrued interest, if any. The offering is expected to close on November 22, 2022, subject to the satisfaction of customary closing conditions.
eBay intends to use all or a substantial portion of the net proceeds from the offering to redeem all outstanding floating rate notes due 2023 and 2.750% fixed rate notes due 2023, 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 BofA Securities, Inc., HSBC Securities (USA) Inc. and Wells Fargo Securities, LLC as joint book-running managers, and BNP Paribas Securities Corp., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, RBC Capital Markets, LLC, Standard Chartered Bank, Mischler Financial Group, Inc., Penserra Securities LLC and Siebert Williams Shank & Co., LLC as co-managers.
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.