eBay prices any-and-all tender offer on $1 billion 2.6% notes due 2022

By Taylor Fox

New York, March 23 – eBay Inc. priced its cash tender offer for any and all of its outstanding $1 billion 2.6% notes due 2022 (Cusip: 278642AE3), according to a news release.

Holders who tender or deliver a notice of guaranteed delivery before the expiration time will receive a tender offer consideration of $1,024.39 per $1,000 principal amount, with pricing based on the 2.25% U.S. Treasury due April 15, 2022 and a fixed spread of 20 basis points.

The offer will expire at 5 p.m. ET March 23. Tenders may be withdrawn prior to that time.

Settlement is expected for March 24.

The guaranteed delivery date is expected for 5 p.m. ET March 25, and the guaranteed delivery settlement date is expected to be on March 26.

BofA Securities, Inc. (980 387-3907) is the dealer manager, and D.F. King & Co., Inc. (212 269-5550, 866 521-4487) is the tender and information agent.

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

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