PayPal issues ¥90B in three-tranche senior notes due 2025-2028

PayPal Holdings, Inc.

Issued ¥90.0B aggregate principal: ¥30B 0.813% notes due 2025, ¥23B 0.972% notes due 2026, ¥37B 1.240% notes due 2028.
Notes are unsecured senior obligations, ranking equally with all existing and future unsubordinated debt.
Interest payable semi-annually on June 9 and December 9, beginning December 9, 2023.
Company may redeem each series in whole at any time if certain U.S. tax events occur.
Change-of-control trigger with rating downgrade requires repurchase at 101% of principal plus accrued interest.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

PayPal Holdings, Inc. entered into Notes Offering with Computershare Trust Company, N.A. valued at ¥90.0 billion aggregate principal amount of senior notes (effective 2023-06-09).

Action: entry
Agreement: notes offering
Counterparty: Computershare Trust Company, N.A.
Value: ¥90.0 billion aggregate principal amount of senior notes
Effective: 2023-06-09

Exact text from the filing

On June 9, 2023, PayPal Holdings, Inc. (the “Company”) issued and sold ¥90.0 billion aggregate principal amount of senior notes, consisting of ¥30.0 billion aggregate principal amount of 0.813% notes due 2025 (the “2025 Notes”), ¥23.0 billion aggregate principal amount of 0.972% notes due 2026 (the “2026 Notes”) and ¥37.0 billion aggregate principal amount of 1.240% notes due 2028 (the “2028 Notes” and, together with the 2025 Notes and the 2026 Notes, the “Notes”). The Notes are being issued pursuant to an indenture, dated as of September 26, 2019 (the “Base Indenture”), between the Company and Computershare Trust Company, N.A. as successor to Wells Fargo Bank, National Association, as trustee, together with the officer’s certificate, dated June 9, 2023 (the “Officer’s Certificate” and, together with the Base Indenture, the “Indenture”), issued pursuant to the Indenture establishing the terms of each series of Notes.

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Source: SEC EDGAR

accession 0001193125-23-163898

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