PayPal Announces Pricing of Debt Tender Offer

About this update from Paypal Holdings, Inc.

[{"type":"text","content":"SAN JOSE, Calif., May 20, 2022 /PRNewswire/ -- PayPal Holdings, Inc. (NASDAQ: PYPL) today announced the pricing of its previously announced offer to purchase for cash any and all of the company's outstanding notes listed in the table below (collectively, the \"Notes\"). Each reference to an \"Offer\" herein refers to the applicable offer to purchase for cash the 2.200% Senior Notes due September 2022 (the \"2022 Notes\") or the 1.350% Senior Notes due June 2023 (the \"2023 Notes\"), as applicable.\nThe Offer was made upon the terms and subject to the conditions set forth in the offer to purchase, dated May 16, 2022 (as may be amended or supplemented from time to time, the \"Offer to Purchase\"), and its accompanying notice of guaranteed delivery (the \"Notice of Guaranteed Delivery\" and, together with the Offer to Purchase, the \"Tender Offer Documents\"). Capitalized terms used but not defined in this announcement have the meanings given to them in the Offer to Purchase. \n \nTitle of Notes\nCUSIP\nNumber/ISIN\nPrincipalAmountOutstanding\nUST ReferenceSecurity\nBloombergReference\nPage\nReference Yield\nFixed Spread\n(bps)\nTenderConsideration(1)\n2.200% Senior Notes due September 2022................... \nCUSIP: 70450YAB9ISIN: US70450YAB92\n$1,000,000,000\n1.750% UST due 09/30/2022\nPX3\n1.316%\n+10\n$1,002.65\n1.350% Senior Notes due June 2023................................... \nCUSIP: 70450YAF0ISIN: US70450YAF07\n$1,000,000,000\n2.750% UST due 05/31/2023\nPX4\n2.140%\n+20\n$990.06\n_____________________________\n(1) Per $1,000 principal amount of Notes validly tendered at or prior to the Expiration Time or the Guaranteed Delivery Date pursuant to the guaranteed delivery procedures and not validly withdrawn and accepted for purchase (and subject to the applicable authorized denomination), calculated on the basis of the bid-side price of the U.S. Treasury Reference Security as of 2:00 pm New York City time on May 20, 2022. Does not include Accrued Interest (as defined below). \nDetails of the Offer\nUpon the terms and subject to the conditions set forth in the Tender Offer Documents, Holders who (i) validly tender Notes at or prior to the Expiration Time (as defined below) (and do not validly withdraw such Notes at or prior to the Withdrawal Time (as defined below)) or (ii) deliver a properly completed and duly executed Noti...

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