Synopsys Inc
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Information Technology : Software | Large Cap Growth
Company profile

Synopsys, Inc. provides software, intellectual property (IP) and services. The Company supplies the electronic design automation (EDA) software that engineers use to design and test integrated circuits, also known as chips. It also offers IP products, which are pre-designed circuits that engineers use as components of larger chip designs rather than designing those circuits themselves. It provides software and hardware used to develop the electronic systems that incorporate chips and the software that runs on them. It provides technical services to support its solutions and help its customers develop chips and electronic systems. It is also a provider of software tools that developers use to develop software code in a range of industries, including electronics, financial services, energy, and industrials. It offers products and services in four categories: core EDA; IP, Systems and Software Integrity; Manufacturing Solutions, and Professional Services and Other.

Closing Price
$198.79
Day's Change
-3.47 (-1.72%)
Bid
--
Ask
--
B/A Size
--
Day's High
202.22
Day's Low
196.14
Volume
(Below Average)
Volume:
518,301

10-day average volume:
597,641
518,301

PayPal Announces Pricing of Senior Notes Offering

8:52 pm ET May 11, 2020 (PR Newswire) Print

PayPal Holdings, Inc. (Nasdaq: PYPL) announced today that it has priced its offering of $4.0 billion aggregate principal amount of senior notes, consisting of $1,000,000,000 aggregate principal amount of 1.350% notes due 2023, $1,000,000,000 aggregate principal amount of 1.650% notes due 2025, $1,000,000,000 aggregate principal amount of 2.300% notes due 2030 and $1,000,000,000 aggregate principal amount of 3.250% notes due 2050. The offering is expected to close May 18, 2020, subject to customary closing conditions.

https://mma.prnewswire.com/media/946166/PayPal_Logo.jpg

PayPal estimates that the net proceeds from the offering will be approximately $3,974,740,000, before deducting offering expenses. PayPal intends to use a portion of the net proceeds from the offering to repay outstanding borrowings under its five-year revolving credit facility (the "Revolving Credit Facility") and the remainder for general corporate purposes, which may include funding the repayment or redemption of outstanding debt, share repurchases, ongoing operations, capital expenditures and possible acquisitions of businesses or assets or strategic investments. As of March 31, 2020, $3.0 billion was outstanding under the Revolving Credit Facility at a weighted average interest rate of 2.19%.

BofA Securities, Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC and Wells Fargo Securities, LLC are acting as joint book-running managers of the offering.

This offering is being made under an automatic effective shelf registration statement on Form S-3 filed by PayPal with the Securities and Exchange Commission (the "SEC") and only by means of a prospectus supplement and accompanying prospectus. Before you invest, you should read the prospectus supplement and accompanying prospectus, as well as other documents PayPal has filed or will file with the SEC for more complete information about PayPal and this offering. These documents may be obtained for free by searching the SEC online database (EDGAR) on the SEC website at www.sec.gov. Alternatively, copies of the preliminary prospectus supplement and accompanying prospectus, and, when available, the final prospectus supplement for the offering may be obtained by contacting: BofA Securities, Inc. at NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, North Carolina, 28255-0001, Attn: Prospectus Department or at (800) 294-1322; Citigroup Global Markets Inc. at c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or at (800) 831-9146; or J.P. Morgan Securities LLC at Attention: Investment Grade Syndicate Desk, 383 Madison Avenue, New York, New York 10179, 3rd Floor, or collect at (212) 834-4533.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of the notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About PayPalPayPal has remained at the forefront of the digital payment revolution for more than 20 years. By leveraging technology to make financial services and commerce more convenient, affordable, and secure, the PayPal platform is empowering more than 300 million consumers and merchants in more than 200 markets to join and thrive in the global economy.

Forward-Looking Statements This press release contains "forward-looking" statements within the meaning of applicable securities laws, including statements related to the anticipated terms of the offering, the anticipated closing of the offering, the expected use of proceeds of the notes and other statements that are not historical fact. These forward-looking statements can be identified by words such as "may," "will," "would," "should," "could," "expect," "anticipate," "believe," "estimate," "intend," "strategy," "future," "opportunity," "plan," "project," "forecast" and other similar expressions. Forward-looking statements are based upon various estimates and assumptions, as well as information known to PayPal as of the date of this press release, and are inherently subject to numerous risks and uncertainties. Accordingly, actual results could differ materially from those predicted or implied by forward-looking statements. For the reasons discussed above, you should not place undue reliance on the forward-looking statements in this press release. PayPal assumes no obligation to update such forward-looking statements, except as required by law.

PayPal Holdings, Inc.Investor Relations ContactGabrielle Rabinovitchgrabinovitch@paypal.com

Akila Moorthyamoorthy@paypal.com

Media Relations ContactJosh Criscoejcriscoe@paypal.com

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View original content:http://www.prnewswire.com/news-releases/paypal-announces-pricing-of-senior-notes-offering-301057138.html

SOURCE PayPal Holdings, Inc.

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