- PayPal Holdings (NASDAQ:PYPL) has priced its offering of $3B of senior notes in four tranches.
- Offering consists of $500M of 3.900% notes due 2027, $1B of 4.400% notes due 2032, $1B of 5.050% notes due 2052 and $500M of 5.250% notes due 2062.
- The offering is expected to close May 23, 2022.
- Proceeds from the offering is estimated to be approximately $2.99B.
- A portion of the proceeds will be used to fund the purchase for cash of any and all of the company's outstanding 2.200% notes due 2022 and 1.350% notes due 2023 pursuant to the tender offer that commenced on May 16, 2022 and for the payment of related and unpaid interest, premiums, fees and expenses.
- Any remaining proceeds will be used for general corporate purposes.
- Shares up 3% premarket.
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