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This excerpt taken from the EBAY 10-K filed Feb 28, 2007. Line
of Credit
In November 2006, we entered into a credit agreement which
provides for an unsecured $1 billion five-year revolving
credit facility. Loans under the credit agreement will bear
interest at either (i) LIBOR plus a margin ranging from
0.25 percent to 0.45 percent or (ii) a formula
based on the Bank of America, or Agent’s, prime rate or on
the federal funds effective rate. Subject to certain conditions
stated in the credit agreement, we may borrow, prepay and
reborrow amounts under the credit facility at any time during
the term of the credit agreement. Funds borrowed under the
credit agreement may be used for working capital, capital
expenditures, acquisitions and other general corporate purposes
of eBay and its subsidiaries. We entered into the credit
agreement in order to enhance our financial flexibility. As of
December 31, 2006, we had not borrowed any funds under the
credit agreement.
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