Business
eBay Announces Early Results of Tender Offer and Consent Solicitation for 2.875% Notes due 2021
SAN JOSE, Calif., June 22, 2020 /PRNewswire/ -- eBay Inc. (Nasdaq: EBAY), announced today the early results of its previously announced cash tender offer (the
About this update from Ebay Inc.
[{"type":"text","content":"SAN JOSE, Calif., June 22, 2020 /PRNewswire/ -- eBay Inc. (Nasdaq: EBAY), announced today the early results of its previously announced cash tender offer (the \"Offer\") for any and all of its $750 million aggregate principal amount of outstanding 2.875% Notes due 2021 (the \"Notes\"), and its concurrent consent solicitation (together with the Offer, the \"Offer and Consent Solicitation\") to amend the indenture governing the Notes to shorten the minimum notice period required for optional redemption of the Notes by the Company from 30 calendar days to two calendar days (the \"Amendment\"), in each case, upon the terms and conditions included in the Offer to Purchase and Consent Solicitation Statement, dated June 8, 2020 and as amended by the early results press release issued June 22, 2020 (the \"Offer to Purchase\").\n\n \n \n \n \n \n \n\n \nAs of the consent fee deadline, which was 5:00 p.m., New York City time, on June 19, 2020 (the \"Consent Fee Deadline\"), the aggregate principal amount of the Notes and related consents that have been validly tendered and delivered and not validly withdrawn or revoked was $ 329,236,000, representing 43.90% of the $750,000,000 aggregate outstanding principal amount of the Notes.\nThe Offer and Consent Solicitation is subject to the satisfaction or waiver of certain conditions as described in the Offer to Purchase, including satisfaction of certain general conditions to the Offer and Consent Solicitation, in each case as described in more detail in the Offer to Purchase. If any of the conditions are not satisfied, the Company may terminate the Offer and Consent Solicitation and return tendered Notes, may waive unsatisfied conditions and accept for payment and purchase all validly tendered Notes, may extend the Offer and Consent Solicitation or may otherwise amend the Offer and Consent Solicitation.\nSubject to the terms and conditions of the Offer and Consent Solicitation being satisfied or waived, holders who validly tendered and did not withdraw Notes prior to the Consent Fee Deadline will, if their Notes are accepted for purchase, receive the \"Total Consideration\" equal to $1,028.20 per $1,000 principal amount of Notes. In addition to the Total Consideration, holders will receive accrued and unpaid interest on the Notes from the most recent payment of semi-annual interest preceding th...