PayPal Holdings, Inc. has announced the pricing of its senior unsecured notes offering on May 20, 2024. The offering consists of $850 million in 5.150% notes due in 2034 and $400 million in 5.500% notes due in 2054. The trade date for this offering is set for May 20, 2024, with a settlement date of May 28, 2024. The notes will be issued in denominations of $2,000 and multiples of $1,000 thereafter. The anticipated ratings for these notes are A3 by Moody's, A- by Standard & Poor's, and A- by Fitch. The joint book-running managers for the offering include BofA Securities, Deutsche Bank Securities, Goldman Sachs & Co. LLC, among others, with several co-managers also participating. The notes will pay interest semi-annually and are priced slightly below par, at 99.351% for the 2034 notes...Show More

PayPal Holdings, Inc. has announced the pricing of its senior unsecured notes offering on May 20, 2024. The offering consists of $850 million in 5.150% notes due in 2034 and $400 million in 5.500% notes due in 2054. The trade date for this offering is set for May 20, 2024, with a settlement date of May 28, 2024. The notes will be issued in denominations of $2,000 and multiples of $1,000 thereafter. The anticipated ratings for these notes are A3 by Moody's, A- by Standard & Poor's, and A- by Fitch. The joint book-running managers for the offering include BofA Securities, Deutsche Bank Securities, Goldman Sachs & Co. LLC, among others, with several co-managers also participating. The notes will pay interest semi-annually and are priced slightly below par, at 99.351% for the 2034 notes and 98.841% for the 2054 notes. The offering is benchmarked against U.S. Treasury notes, with a spread of 80 basis points for the 2034 notes and 100 basis points for the 2054 notes. PayPal expects to raise net proceeds of approximately $840.7 million for the 2034 notes and $391.9 million for the 2054 notes before expenses. The notes are callable at a make-whole call rate or at par closer to their respective maturity dates.