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        PayPal Holdings signed a multi-year agreement with Kohlberg Kravis Roberts (KKR) for EUR 3 billion (~USD 3.3 billion) replenishing loan commitments, in which KKR's private credit funds will acquire up to EUR 40 billion (~USD 43.7 billion) of buy now, pay later (BNPL) loan receivables originated by PayPal users in France, Germany, Italy, Spain, and the UK.
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      <p>
        The agreement allows PayPal to accelerate its PayPal Pay Later originations in Europe while maintaining its customer-facing activities, such as underwriting and servicing its European BNPL products. The transaction is expected to generate ~USD 1.8 billion in proceeds for PayPal and contribute to an updated outlook of ~USD 5 billion in total share repurchases in 2023. The deal is subject to certain conditions and is expected to close during the second half of 2023.
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  <p>
    <a href="https://www.prnewswire.com/news-releases/paypal-and-kkr-announce-exclusive-multi-year-relationship-for-european-pay-later-receivables-301853769.html">
      Company press release
    </a>
  </p>
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All Updates

PayPal announces the sale of Pay Later receivables worth EUR 40 billion to KKR