The investment-grade notes were issued in three tranches

We advised the joint book-running managers and representatives of the several underwriters in connection with the SEC-registered offering by PayPal Holdings, Inc. of $450 million aggregate principal amount of floating-rate notes due 2028, $450 million aggregate principal amount of 4.450% notes due 2028 and $600 million aggregate principal amount of 5.100% notes due 2035.

Headquartered in San Jose, California, PayPal has been revolutionizing commerce globally for more than 25 years. PayPal creates innovative experiences that make moving money, selling and shopping simple, personalized and secure. PayPal empowers consumers and businesses in approximately 200 markets to join and thrive in the global economy.

The Davis Polk corporate team included partners Alan F. Denenberg and Emily Roberts and associates Julia Molo and Erica F. Buonanno. The tax team included partner Mario J. Verdolini and associates Ted Lee and Fred Fu. Partner Matthew J. Bacal and associate Shreya R. Kundur provided intellectual property advice. Members of the Davis Polk team are based in the Northern California and New York offices.

 

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