News & Announcements

Weil Advised Synchrony Financial in its $5.8B Acquisition of PayPal’s U.S. Consumer Credit Receivables Portfolio

Weil advised Synchrony Financial in its $5.8 billion acquisition of PayPal Holdings, Inc.’s U.S. consumer credit receivables portfolio. Synchrony Financial acquired $6.8 billion in receivables, including PayPal’s U.S. consumer credit receivables portfolio and $1 billion in participation interests in receivables held by certain investors and a chartered financial institution. The transaction closed July 04, 2018.

The Weil team that advised Synchrony Financial was led by Mergers & Acquisitions partner Jon-Paul Bernard and included Mergers & Acquisitions counsel Dawn Kim and associate Sarah Fries; Tax partner Chayim Neubort; and Tax associate Christopher Marotta.