eBay Raises $2.5B Debt Via Senior Unsecured Notes For Debt Refinancing

• eBay Inc (NASDAQ: EBAY) has priced $2.5 billion senior unsecured notes, consisting of $750 million of 1.4% Notes due 2026, $750 million of 2.6% Notes due 2031, and $1 billion of 3.65% Notes due 2051 in a public offering.

• eBay will utilize a substantial portion of the offering proceeds to repay $750 million of its outstanding 3.80% Notes due 2022 and around $600 million of its outstanding 2.60% Notes due 2022. The remaining proceeds will be used for general corporate purposes, including capital expenditures, share repurchases, repayment of other indebtedness, and possible acquisitions.

• Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, HSBC Securities (USA) Inc., BofA Securities, Inc., J.P. Morgan Securities LLC, and RBC Capital Markets, LLC are the joint book-running managers.

• eBay held $3.9 billion in cash and equivalents and $5.9 billion in long-term debt as of Mar. 31, 2021.

• Price action: EBAY shares closed higher by 4.23% at $58.15 on Monday.

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