eBay’s 6% $25-par notes due 2056 admitted to Nasdaq for trading

By Stephanie N. Rotondo

Seattle, March 10 – eBay Inc.’s $750 million of 6% $25-par notes due Feb. 1, 2056 were admitted to the Nasdaq Global Select Market on Thursday, a trader reported.

The ticker symbol is “EBAYL.” The deal came Feb. 22.

Price talk was initially 6.125% to 6.25%, another source reported, but was later revised to 6%.

BofA Merrill Lynch, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Wells Fargo Securities LLC were the joint bookrunners.

Interest is payable on the first day of February, May, August and November, beginning May 1. The paper becomes redeemable May 1, 2021 at par plus accrued interest.

Upon a change-of-control triggering event, the company will be required to offer to buy back the notes at 101% of par plus accrued interest.

Proceeds will be used for general corporate purposes, which may include capital expenditures, share repurchases, repayment of debt and possible acquisitions.

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

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