---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-048492"
form_type: "8-K"
ticker: "PYPL"
cik: "0001633917"
company_name: "PayPal Holdings, Inc."
filed_at: "2025-03-06T23:59:59+00:00"
generated_at: "2026-05-25T06:07:16.241432+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# PayPal issues $1.5B in senior notes across three tranches

## Summary
- Issued $450M floating rate notes due 2028, $450M 4.450% notes due 2028, and $600M 5.100% notes due 2035.
- Notes are unsecured senior obligations ranking equally with existing unsecured debt.
- Floating rate notes not redeemable; 2028 and 2035 notes redeemable with make-whole premium before certain dates.
- Change of control triggering rating downgrade requires repurchase at 101% of principal plus accrued interest.
- Indenture includes customary covenants and event of default provisions.

## SEC filing metadata
- accession: 0001193125-25-048492
- form_type: 8-K
- ticker: PYPL
- cik: 0001633917
- company_name: PayPal Holdings, Inc.
- filed_at: 2025-03-06T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1633917/000119312525048492/0001193125-25-048492-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1633917/000119312525048492/d924683d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-048492
- JSON: https://secwatch.observer/filing/0001193125-25-048492.json
- Plain text: https://secwatch.observer/filing/0001193125-25-048492.txt

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