PayPal Holdings Inc. has entered into a $5.0 billion unsecured five-year revolving credit facility that includes a $150 million letter of credit sub-facility and a $500 million swingline sub-facility.
PayPal can increase the commitments under the credit facility by up to $2.0 billion. Loans borrowed are available in U.S. dollars, euros, pounds sterling, Canadian dollars and Australian dollars. The credit facility will terminate Sept. 11, 2024.
PayPal entered the facility with JPMorgan Chase Bank NA; J.P. Morgan Securities Australia Ltd.; JPMorgan Chase Bank NA, Toronto branch; and J.P. Morgan Europe Ltd.
In addition, the payments processor giant secured a $1.0 billion 364-day unsecured revolving credit facility from JPMorgan Chase Bank NA. The credit facility will terminate Sept. 9, 2020.
