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eBay sees tenders for $394.4 million of $1 billion 2.6% notes due 2022
By Taylor Fox
New York, March 24 – eBay Inc. announced the results of 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.
As of the 5 p.m. ET March 23 expiration time, $394.4 million, or 39.44%, of the notes were tendered, excluding the $1,337,000 of notes tendered under guaranteed delivery procedures.
As previously reported, 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.
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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