PayPal Holdings to repay revolver borrowings with new note proceeds

By Marisa Wong

Los Angeles, May 11 – PayPal Holdings, Inc. plans to repay outstanding borrowings, in whole or in part, under its revolving credit facility using proceeds from an offering of notes, according to a 424B2 filing with the Securities and Exchange Commission.

As of March 31, $3 billion was outstanding under the revolver at a weighted average interest rate of 2.19%.

The digital payments company is based in San Jose, Calif.

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