eBay to offer two tranches of dollar-denominated senior notes

By Rebecca Melvin

New York, March 4 – eBay Inc. is offering a two-tranche offering of senior notes, according to a 424B5 filed with the Securities and Exchange Commission on Wednesday.

The company may call the notes at any time at par plus a make-whole and accrued interest.

In the event of a change-of-control trigger, the notes will be repurchased at 101%.

BofA Securities Inc., Credit Suisse Securities (USA) LLC, Wells Fargo Securities LLC, Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC are the bookrunners for the deal.

eBay plans to use all or nearly all of the proceeds plus other funds potentially to repay its $500 million of 2.15% notes due June 5, 2020 and $500 million of 3.25% notes due Oct. 15, 2020. Any remaining proceeds are earmarked for general corporate purposes, which may include capital expenditures, share repurchases, debt repayment and possible acquisitions.

eBay is a San Jose, Calif.-based commerce company.

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