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.
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