Summary by Moomoo AI
PayPal Holdings, Inc. has announced the issuance of $1.25 billion in notes, divided into two tranches: $850 million of 5.150% notes due 2034 and $400 million of 5.500% notes due 2054. The interest on these notes will be paid semi-annually, with the first payment commencing on December 1, 2024. The notes are senior unsecured obligations and will rank equally with PayPal's other senior unsecured obligations. The offering was managed by a syndicate of banks, including BofA Securities, Deutsche Bank Securities, and Goldman Sachs & Co. LLC, among others. The notes will not be listed on any securities exchange, and there is currently no public market for them. The proceeds from the offering are intended for general corporate purposes, which may include repayment of existing debt, share repurchases, and potential acquisitions. The sale was conducted under PayPal's shelf registration statement and the specific terms of the notes were detailed in the related prospectus supplement filed with the SEC.
