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PayPal to offer senior notes

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PayPal to offer senior notes

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.