Repatriation of profit and taking on $3.5 billion debt
Ebay said it was going to repatriate the $9 billion of profit overseas and take the $3 billion tax bite. And now they are borrowing $3.5 billion more! So that's $6 billion net from repatriation plus $3.5 billion borrowed = $9.5 billion. What's Ebay going to do with $9.5 billion in cash? Do more share buyback? Buy which companies?
I was laughing at the news eBay was issuing bonds with maturation date as far off as 2024 for a meager 3.450%... Most hilarious part is they're "unsecured notes". Yes, you mean eBay, "We've Got You Covered" who will refund crooked buyers from a seller's funds without permission is offering "unsecured" securities !!!