KKR Collaborates with PayPal in a Multi-Year €3B Deal to Accelerate BNPL Loan Originations in Europe - $PYPL $KKR
Benzinga
2023-06-20
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PayPal Holdings, Inc. (NASDAQ:PYPL) and KKR & Co Inc (NYSE:KKR) sign an exclusive multi-year agreement for a €3 billion replenishing loan commitment.
Under the replenishing loan commitment, private credit funds and accounts managed by KKR will purchase up to €40 billion of buy now, pay later (BNPL) loan receivables originated by PayPal in France, Germany, Italy, Spain, and the United Kingdom.
The deal states that KKR's private credit funds and accounts will acquire all of PayPal's European BNPL loan portfolio at the closure of the transaction, as well as future originations of qualifying BNPL loans.
Under the replenishing loan commitment, private credit funds and accounts managed by KKR will purchase up to €40 billion of buy now, pay later (BNPL) loan receivables originated by PayPal in France, Germany, Italy, Spain, and the United Kingdom.
The deal states that KKR's private credit funds and accounts will acquire all of PayPal's European BNPL loan portfolio at the closure of the transaction, as well as future originations of qualifying BNPL loans.
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