Exhibit 99.1
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eBay Inc. Prices $750 Million Senior Unsecured Notes Offering
SAN JOSE, Calif., June 8, 2020 –eBay Inc. (Nasdaq:EBAY) today announced the pricing of a $750 million underwritten public offering of its senior unsecured notes, consisting of $300 million of 1.900% Notes due 2025 (the “2025 Notes”) and $450 million of 2.700% Notes due 2030 (the “2030 Notes”). The public offering price of the 2025 Notes is 103.432% of the principal amount and the public offering price of the 2030 Notes is 103.176% of the principal amount, in each case plus accrued interest from March 11, 2020 to, but not including, the closing date. The 2025 Notes and 2030 Notes will have the same terms (other than the initial offering price and the issue date) and be of the same series as the 1.900% Notes due 2025 and the 2.700% Notes due 2030 eBay first issued on March 11, 2020 (the “Original Notes”). Upon consummation of the offering, the 2025 Notes and 2030 Notes will trade interchangeably with the Original Notes of that series and eBay will have a total of $800 million of 2025 Notes outstanding and $950 million of 2030 Notes outstanding. The offering is expected to close on June 15, 2020, subject to customary closing conditions.
eBay intends to use the net proceeds from the offering and, if necessary, other available funds to (a) purchase any and all of the 2.875% Notes due 2021 (the “2021 Notes”) that are validly tendered in the tender offer eBay announced earlier today, (b) fund the redemption price of the 2021 Notes eBay may redeem pursuant to the exercise of its rights to redeem the 2021 Notes and (c) make the payment of related premiums, fees and expenses. eBay intends to use any remaining net proceeds 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 Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC, as joint book-running managers, and BofA Securities, Inc., BNP Paribas Securities Corp., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, HSBC Securities (USA) Inc., RBC Capital Markets, LLC, Standard Chartered Bank and Wells Fargo Securities, LLC, as co-managers. Copies of the prospectus supplement and prospectus related to the offering may be obtained by contacting Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, Eleven Madison Avenue, 3rd floor, New York, New York 10010, by telephone at1-800-221-1037 or bye-mail atusa.prospectus@credit-suisse.com, or J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, New York 11717, by telephone at1-866-803-9204 or bye-mail at prospectus-eq_fi@jpmchase.com or Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, Second Floor, New York, New York 10014 or bye-mail atprospectus@morganstanley.com.
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
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