Press release
PayPal Announces Pricing of Senior Notes Offering
SAN JOSE, Calif., May 16, 2022 /PRNewswire/ -- PayPal Holdings, Inc. (NASDAQ: PYPL) announced today that it has priced its offering of $3.0 billion aggregate
About this update from Paypal Holdings, Inc.
[{"type":"text","content":"SAN JOSE, Calif., May 16, 2022 /PRNewswire/ -- PayPal Holdings, Inc. (NASDAQ: PYPL) announced today that it has priced its offering of $3.0 billion aggregate principal amount of senior notes, consisting of $500 million aggregate principal amount of 3.900% notes due 2027, $1 billion aggregate principal amount of 4.400% notes due 2032, $1 billion aggregate principal amount of 5.050% notes due 2052 and $500 million aggregate principal amount of 5.250% notes due 2062. The offering is expected to close May 23, 2022, subject to customary closing conditions.\n\n \n \n \n \n \n \n\n \nPayPal estimates that the proceeds from the offering will be approximately $2.99 billion, before deducting offering expenses. PayPal intends to use a portion of the proceeds from the offering to fund the purchase for cash of any and all of the Company's outstanding 2.200% Notes due 2022 and 1.350% Notes due 2023 pursuant to the tender offer that commenced on May 16, 2022 and for the payment of related and unpaid interest, premiums, fees and expenses. PayPal intends to use the remainder for general corporate purposes, which may include funding the repayment or redemption of any 2022 Notes and 2023 Notes that are not validly tendered and accepted for payment in the tender offer, as well as other outstanding debt, share repurchases, ongoing operations, capital expenditures and possible acquisitions of businesses or assets or strategic investments.\nBofA Securities, Goldman Sachs & Co. LLC and Morgan Stanley are acting as joint book-running managers of the offering.\nThis offering is being made under an automatic effective shelf registration statement on Form S-3 filed by PayPal with the Securities and Exchange Commission (the \"SEC\") and only by means of a prospectus supplement and accompanying prospectus. Before you invest, you should read the prospectus supplement and accompanying prospectus, as well as other documents PayPal has filed or will file with the SEC for more complete information about PayPal and this offering. These documents may be obtained for free by searching the SEC online database (EDGAR) on the SEC website at www.sec.gov. Alternatively, copies of the preliminary prospectus supplement and accompanying prospectus, and, when available, the final prospectus supplement for the offering may be obtained by contacting: BofA Securities, Inc. at N...