PayPal Holdings, Inc. announced a $2.0 billion offering of senior unsecured notes across three tranches. The first tranche includes $650 million of 4.550% notes due in 2028. The second tranche consists of $850 million of 4.950% notes due in 2031. The final $500 million tranche carries a 5.550% interest rate due in 2036. The offering is expected to close on or about May 15, 2026.
Net proceeds are estimated at approximately $1.99 billion after expenses. PayPal will use the funds for general corporate purposes, including the repayment of 2.650% notes due in October 2026. The capital will also support share repurchases, ongoing operations, and capital expenditures. Remaining funds may be used for potential acquisitions. Interest payments will occur semi-annually starting December 1, 2026.