PayPal Holdings Inc. plans to offer senior notes in one or more tranches.
The payments processor intends to use the net proceeds to repay debt under its 364-day term loan facility, which had outstanding amounts of $2.5 billion as of June 30. It plans to use remaining proceeds for general corporate purposes.
Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, BNP Paribas Securities Corp., BofA Securities Inc., HSBC Securities (USA) Inc. and MUFG Securities Americas Inc. are joint book-running managers of the offering.
