Latham & Watkins, Freshfields Bruckhaus Deringer and Allen & Overy have scored roles on a multibillion deal between online payments giants PayPal and private equity firm KKR for the purchase of €40 billion worth of buy now-pay later loans.
PayPal said in a statement that the two companies had entered into an “exclusive” multi-year agreement for a €3 billion replenishing loan commitment under which private credit funds managed by KKR will purchase up to €40 billion of buy now-pay later loans originated by PayPal in France, Germany, Italy, Spain, and the U.K.
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