PayPal issues $1.25B in senior notes: 5.150% notes due 2034 and 5.500% notes due 2054

PayPal Holdings, Inc.

Issued $850M of 5.150% notes due June 1, 2034 and $400M of 5.500% notes due June 1, 2054.
Interest payable semi-annually on June 1 and December 1, starting December 1, 2024.
Notes are unsecured senior obligations, ranking equally with existing unsecured debt.
Change-of-control + rating downgrade triggers 101% repurchase offer requirement.
Proceeds not specified; notes issued under existing shelf registration (S-3).

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