PayPal Announces Senior Notes Offering
PayPal Announces Senior Notes Offering |
[19-September-2019] |
SAN JOSE, Calif., Sept. 19, 2019 /PRNewswire/ -- PayPal Holdings, Inc. (NASDAQ: PYPL) announced today that it intends to offer senior notes in one or more tranches, subject to market and customary conditions.
PayPal intends to use a portion of the net proceeds from the offering to repay outstanding borrowings under its 364-day term loan credit facility and the remainder for general corporate purposes, which may include funding the repayment or redemption of outstanding debt, share repurchases, ongoing operations, capital expenditures and possible acquisitions of businesses or assets and strategic investments. As of June 30, 2019, $2.5 billion was outstanding under PayPal's 364-day term loan credit facility at a weighted average interest rate of 3.47%. Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, BNP Paribas Securities Corp., BofA Securities, Inc., HSBC Securities (USA) Inc. and MUFG Securities Americas Inc. are acting as joint book-running managers of the offering. This offering is being made under an automatic effective shelf registration statement on Form S-3 filed by PayPal with the Securities and Exchange Commission (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 for the offering may be obtained by contacting the joint book-running managers at the following addresses or telephone numbers:
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of the notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. About PayPal Holdings, Inc. Forward-Looking Statements
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Company Codes: NASDAQ-NMS:PYPL |
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