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PayPal Borrows $5 Billion in Debut Bond Deal as Market Reignites

  • Digital payment company sold inaugural bonds in four parts
  • Borrowers return after backing off amid Wednesday Fed meeting
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Photographer: David Paul Morris/Bloomberg
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PayPal Holdings Inc. kicked off its debut bond offering as the investment-grade market reignited.

The digital payments company sold $5 billion of senior unsecured bonds in four parts. The longest portion of the offering, a 10-year security, will yield 1.1 percentage points above Treasuries, after initially discussing between 1.3 and 1.35 percentage points, according to a person with knowledge of the matter, who asked not to be identified as the details are private.