PayPal obtains $5.0B five-year revolving credit facility
Justin Sullivan

PayPal Holdings (NASDAQ:PYPL) said Tuesday it entered a $5.0B five-year revolving credit agreement last week, with the potential to increase commitments under the facility by up to $2.0B.
The facility includes a $150M letter of credit sub-faclity and a $600M swingline sub-facility, with available borrowings under the revolving credit facility reduced by the amount of any letters of credit and swingline borrowings outstanding from time to time, according to a filing.

Loans borrowed under the agreement are available in U.S. dollars, euros, pound sterling, and Australian dollars.
Borrowings under the pact will bear interest at the applicable benchmark rate plus 0.75%-1.25% in most cases.
PayPal (PYPL) entered the new credit agreement on June 7, 2023, the same day it terminated its 2019 credit agreement, the company said in a filing.
Earlier in June, PayPal's (PYPL) said its priced its three-part Â¥90B offering of senior notes