MoFo Advises eBay in $1.15 Billion Debt Offering

Morrison Foerster advised eBay Inc. (Nasdaq: EBAY), an American multinational e-commerce company that facilitates C2C and B2C sales through its website, in connection with a $1.15 billion offering of senior unsecured notes under its existing shelf registration statement.

The offering consisted of $450,000,000 of 5.900% Notes due 2025, $300,000,000 of 5.950% Notes due 2027, and $425,000,000 of 6.300% Notes due 2032. eBay intends to use all or a substantial portion of the net proceeds from the offering to redeem all outstanding floating rate notes due 2023 and 2.750% fixed rate notes due 2023, with any remaining net proceeds to be used for general corporate purposes, which may include capital expenditures, share repurchases, repayment of other indebtedness, and possible acquisitions.

eBay is a global commerce leader that connects people and builds communities to create economic opportunity for all. eBay’s technology empowers millions of buyers and sellers in more than 190 markets around the world, providing everyone the opportunity to grow and thrive. Founded in 1995 in San Jose, California, eBay is one of the world's largest and most vibrant marketplaces for discovering great value and unique selection.

The MoFo deal team advising eBay was led by Washington, D.C. corporate partner Scott Lesmes and Austin partner John Hensley, together with New York associate Victoria McGrath and Washington, D.C. associate Leemor Banai. New York partner Dave Sturgeon provided tax counsel on the matter.