KKR Renews Deal With PayPal to Buy Up to €65 Billion of Loans

KKR & Co. agreed to purchase as much as €65 billion ($75.4 billion) of buy-now, pay-later loans from PayPal Holdings Inc. as part of an extension of a two-year-old agreement between the two companies.

The new deal includes a €6 billion replenishing loan commitment that allows credit funds and accounts managed by KKR to purchase loans originated by PayPal in France, Germany, Italy, Spain and the UK, according to a statement Monday.