PayPal Issues $2.0 Billion Senior Notes in Three Tranches
PayPal Holdings, Inc. issued and sold $2.0 billion aggregate principal amount of senior notes on May 15, 2026, consisting of three tranches: $650 million of 4.550% notes due 2028, $850 million of 4.950% notes due 2031, and $500 million of 5.550% notes due 2036. The notes are unsecured senior obligations ranking equally with all existing and future unsecured and unsubordinated indebtedness. Interest is payable semi-annually on June 1 and December 1, beginning December 1, 2026.
Key takeaways
Issued $2.0 billion in senior notes across three tranches with maturities in 2028, 2031, and 2036
$650M 4.550% notes due June 1, 2028; $850M 4.950% notes due June 1, 2031; $500M 5.550% notes due June 1, 2036
Notes are unsecured senior obligations ranking equally with existing and future unsubordinated indebtedness
Company may redeem notes prior to maturity at make-whole prices, except no make-whole for 2031 Notes on or after May 1, 2031 and 2036 Notes on or after March 1, 2036
Change of control combined with below investment grade rating triggers 101% repurchase obligation
Covenants include limitations on liens and sale-leaseback transactions on principal properties
Notes issued under Registration Statement No. 333-284693 filed February 5, 2025
Primary source
TickerStar generated this brief from an official company, investor-relations, earnings-call, or regulatory source. Review the primary material before making an investment decision.
Open SEC filingFollow PYPL in real time
Get material earnings, filing, IR, and earnings-call alerts by email.