eBay Opens New $3 Billion Line of Credit

eBay opened a 5-year unsecured line of credit for $3 billion that it can increase to $4 billion subject to certain conditions. According to its filing with the SEC, eBay can use funds it borrows under the credit agreement for working capital, capital expenditures, acquisitions and other general corporate purposes. Unlike a loan, a line of credit gives a corporation flexibility, letting it draw on the credit when and as needed. According to the agreement, eBay and any subsidiaries designated as additional borrowers may borrow, prepay and reborrow amounts under the revolving credit facility at any time during the