PayPal Holdings, Inc. disclosed the issuance and sale of $2.0 billion in aggregate principal amount of senior unsecured notes. The offering consists of three separate tranches with varying maturity dates and interest rates, issued on May 15, 2026.
Key Details
- Offering Breakdown: The offering includes $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.
- Terms of Notes: The notes are unsecured senior obligations, ranking equally with PayPal's existing and future unsecured debt. Interest is payable semi-annually on June 1 and December 1, starting December 1, 2026.
- Redemption & Repurchase: The company may redeem the notes at any time prior to maturity at a make-whole premium. Additionally, upon a change of control combined with a credit rating downgrade below investment grade, PayPal is required to offer to repurchase the notes at 101% of their principal amount.