Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.
On October 16, 2008, eBay Inc. (the "Company") drew down an aggregate amount of
$1.0 billion under its revolving credit facility (the "Facility") pursuant to
the Credit Agreement (as amended, the "Credit Agreement") with Bank of America,
N.A., as Administrative Agent (the "Agent"); certain lenders named therein; JP
Morgan Chase Bank, N.A. and Wells Fargo Bank, N.A., as Syndication Agents; and
Banc of America Securities LLC, J.P. Morgan Securities Inc. and Wells Fargo
Bank, N.A., as Joint Lead Arrangers and Joint Book Managers. This borrowing
under the Facility currently bears interest at a rate equal to one-month LIBOR
plus a margin of 0.20% (4.67% as of October 16, 2008). We expect that the funds
will be used for general corporate purposes, including financing the acquisition
of Bill Me Later, Inc. and its associated receivables. Following this borrowing,
the remaining availability under the Facility is approximately $840 million
(which also reflects a $160 million reduction in available borrowing resulting
from the bankruptcy filing of Lehman Brothers Holdings Inc., the parent
corporation of Lehman Brothers Commercial Bank (which had a $160 million lending
commitment)).
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