ADVFN - Advanced Financial Network.
HOME» NASDAQ » E » EBAY Stock Price » EBAY Stock News

Ebay Inc. Share News

 Ebay Inc. (mm) Stock Price
EBAY Stock Price
 Ebay Inc. (mm) Stock Chart
EBAY Stock Chart
 Ebay Inc. (mm) Stock News
EBAY Stock News
 Ebay Inc. (mm) Company Information
EBAY Company Information
 Ebay Inc. (mm) Stock Trades
EBAY Stock Trades

EBay Auctions Four-Part Bond Deal as Yields Break Record Lows

By Patrick McGee EBay Inc. (EBAY) is auctioning at least $2 billion worth of debt in a four-part U.S. bond deal Thursday. This marks just the second time eBay has ever issued bonds. Its first deal, for $1.5 billion, was in October 2010. EBay should benefit from the lack of competition in this week's new-issue market. Yields are at record lows--Barclays's index of high-grade debt broke the 3% barrier for the first time in four decades of data on Wednesday when yields declined 0.07 percentage points to 2.98%--but issuance has been quiet with most companies focusing on releasing earnings. Thursday's sale comes a day after the e-commerce and payments company posted its fourth consecutive jump in quarterly profit. EBay said Wednesday its second-quarter revenue climbed 23% to $3.4 billion and profit more than doubled to $692 million from a year earlier. The San Jose, Calif., company intends to sell bonds across the yield curve, with bonds maturing in three, five, 10, and 30 years. The deal is "benchmark"-sized, according to an early term sheet, indicating at least $500 million per tranche. Market sources indicate the size could be $3 billion. The bonds carry provisional ratings of A2 from Moody's Investors Service and A from Standard & Poor's and Fitch Ratings. Scott Kimball, portfolio manager at the $7.3 billion BMO TCH Corporate Income Fund in Miami, noted that high-quality bond issuers have been getting an extremely welcome reception recently, with some trading at yields within half a percentage point of Treasurys. Toyota Motor Credit Corp. (TM) 0.875% coupon bonds due 2015, for instance, traded Thursday morning at a spread of just 0.47 percentage points. They were issued last week at a spread of 0.58 points. Ebay's 3.25% coupon, 2020 bond traded on July 13 with a spread of 0.75 points to Treasurys, yielding 2.248%, according to MarketAxess. "The bond market is expecting further economic deterioration and continued [Federal Reserve] action," Mr. Kimball said, mentioning the possibility for another round of monetary easing. Proceeds from eBay's sale are for general corporate purposes. Write to Patrick McGee at [email protected] Subscribe to WSJ:

Stock News for Ebay Inc. (EBAY)
03/21/201713:25:00The Los Angeles Angels Reach Agreement with StubHub to Become...
03/20/201709:00:00eBay To Roll Out Guaranteed Delivery For 20 Million Items
03/17/201718:52:05Statement of Changes in Beneficial Ownership (4)
03/17/201718:50:10Statement of Changes in Beneficial Ownership (4)
03/17/201718:47:17Statement of Changes in Beneficial Ownership (4)
03/17/201718:44:25Statement of Changes in Beneficial Ownership (4)
03/17/201718:41:58Statement of Changes in Beneficial Ownership (4)
03/17/201718:39:44Statement of Changes in Beneficial Ownership (4)
03/17/201718:37:04Statement of Changes in Beneficial Ownership (4)
03/17/201718:33:50Statement of Changes in Beneficial Ownership (4)
03/17/201718:30:35Statement of Changes in Beneficial Ownership (4)
03/17/201718:28:05Statement of Changes in Beneficial Ownership (4)
03/16/201708:00:00eBay Announces New Advertising Strategy
03/13/201714:00:00Visa & StubHub Achieve Perfect Harmony in Austin
03/13/201710:12:00StubHub Named Official Event Ticketing Partner of Bleacher Report
03/03/201718:49:21Statement of Changes in Beneficial Ownership (4)
03/03/201718:28:20Statement of Changes in Beneficial Ownership (4)
03/03/201718:14:36Statement of Changes in Beneficial Ownership (4)
03/03/201718:03:38Statement of Changes in Beneficial Ownership (4)
03/03/201717:54:51Statement of Changes in Beneficial Ownership (4)

Ebay Inc. and other NASDAQ stock quotes are delayed by at least 20 minutes.
All other stock price and quote data is delayed by at least 15 minutes unless otherwise stated. By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2016 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations