---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-165556"
form_type: "8-K"
ticker: "PYPL"
cik: "0001633917"
company_name: "PayPal Holdings, Inc."
filed_at: "2023-06-13T23:59:59+00:00"
generated_at: "2026-06-14T02:05:53.948083+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# PayPal enters $5B five-year revolving credit facility, replaces prior $5B facility

## Summary
- $5.0B unsecured revolving credit facility with five-year term maturing June 7, 2028.
- Replaces $5.0B revolving facility dated Sept 11, 2019, terminated concurrently.
- Includes $150M letter of credit sub-facility and $600M swingline sub-facility.
- Available in USD, EUR, GBP, AUD; interest margins based on credit ratings (0.75%-1.25%).
- Proceeds for working capital, capital expenditures, acquisitions; Parent Borrower guarantees.

## SEC filing metadata
- accession: 0001193125-23-165556
- form_type: 8-K
- ticker: PYPL
- cik: 0001633917
- company_name: PayPal Holdings, Inc.
- filed_at: 2023-06-13T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1633917/000119312523165556/0001193125-23-165556-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1633917/000119312523165556/d444307d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-165556
- JSON: https://secwatch.observer/filing/0001193125-23-165556.json
- Plain text: https://secwatch.observer/filing/0001193125-23-165556.txt

## Key facts
- Debt Financings
  PayPal Holdings, Inc. incurred revolving credit of $5.0 billion five-year revolving credit facility with JPMorgan Chase Bank, N.A. and J.P. Morgan Securities Australia Limited, as the Administrative Agents at term benchmark rate plus a margin ranging from 0.750 percent to 1.250 percent maturing June 7, 2028.
  - Instrument: revolving credit
  - Principal: $5.0 billion five-year revolving credit facility
  - Counterparty: JPMorgan Chase Bank, N.A. and J.P. Morgan Securities Australia Limited, as the Administrative Agents
  - Rate: term benchmark rate plus a margin ranging from 0.750 percent to 1.250 percent
  - Maturity: June 7, 2028
  - Event: incurrence
  source text: The Credit Agreement provides for an unsecured $5.0 billion five-year revolving credit facility
  evidence_url: https://www.sec.gov/Archives/edgar/data/1633917/000119312523165556/0001193125-23-165556-index.htm
- Material Agreements
  PayPal Holdings, Inc. terminated Credit Agreement, dated as of September 11, 2019 with the lenders party thereto, JPMorgan Chase Bank, N.A., J.P. Morgan Securities Australia Limited, JPMorgan Chase Bank, N.A., Toronto Branch, and J.P. Morgan Europe Limited, as the administrative agents (effective 2023-06-07).
  - Action: termination
  - Agreement: credit facility
  - Counterparty: the lenders party thereto, JPMorgan Chase Bank, N.A., J.P. Morgan Securities Australia Limited, JPMorgan Chase Bank, N.A., Toronto Branch, and J.P. Morgan Europe Limited, as the administrative agents
  - Effective: 2023-06-07
  source text: On June 7, 2023, the Company terminated the revolving facility pursuant to that certain Credit Agreement, dated as of September 11, 2019, among the Company, the lenders party thereto, JPMorgan Chase Bank, N.A., J.P. Morgan Securities Australia Limited, JPMorgan Chase Bank, N.A., Toronto Branch, and J.P. Morgan Europe Limited, as the administrative agents, and the other parties thereto.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1633917/000119312523165556/0001193125-23-165556-index.htm
- Material Agreements
  PayPal Holdings, Inc. entered into Credit Agreement with JPMorgan Chase Bank, N.A. and J.P. Morgan Securities Australia Limited, as the Administrative Agents, and the lenders party thereto valued at $5.0 billion (effective 2023-06-07).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: JPMorgan Chase Bank, N.A. and J.P. Morgan Securities Australia Limited, as the Administrative Agents, and the lenders party thereto
  - Value: $5.0 billion
  - Effective: 2023-06-07
  source text: On June 7, 2023, PayPal Holdings, Inc., as parent borrower (the “ Company ”), entered into a credit agreement (the “ Credit Agreement ”) with PayPal Australia Pty Limited (the “ Australian Borrower ”), PayPal (Europe) S.à r.l. et Cie, S.C.A. (the “ Luxembourg Borrower ” and, together with the Australian Borrower, the “ Foreign Borrowers ”), JPMorgan Chase Bank, N.A. and J.P. Morgan Securities Australia Limited, as the Administrative Agents, and the lenders party thereto.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1633917/000119312523165556/0001193125-23-165556-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.