PayPal offers to buy up to $2B of notes in debt tender offer
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PayPal Holdings (NASDAQ:PYPL) is offering to buy up to $2B of its notes outstanding â $1B of 2.200% senior notes due September 2022 and $1B of 1.350% senior notes due June 2023.
The company is offering to pay a +10 bps fixed spread over the 1.750% U.S. Treasury due Sept. 30, 2022 for the September 2022 notes and a +20 bps fixed spread over the 2.750% U.S. Treasury due May 31, 2023 for the June 2023 notes.

The price determination date is 2:00 PM ET, May 20, 2022, unless extended, and expiration will be 5:00 PM ET, May 20, 2022, unless extended.
PayPal (PYPL) shares are slipping 0.9% in early Monday trading.
Previously (May 11), CEO Dan Schulman explained PayPal's (PYPL) mindset shift in developing guidance