KKR to buy up to $43 billion of PayPal’s buy now, pay later loans in Europe

Investment firm KKR will purchase up to €40 billion ($43.71 billion) of buy now, pay later (BNPL) loans originated by PayPal Holdings in Europe, the payments company said on Tuesday.

Under the terms of the agreement, private credit funds and accounts managed by KKR will acquire substantially all of PayPal’s European BNPL loan portfolio.