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3.66%Coinbase to Sell $1.5B of 7-Year, 10-Year Debt
The funds will be used for general corporate purposes, which may include acquisitions.
Coinbase, the Nasdaq-traded crypto exchange, said it plans to sell $1.5 billion of debt through a private offering.
- The notes will become due in 2028 and 2031, the company said.
- The funds will be used for general purposes, which may include product development and possible acquisitions of other companies.
- The sale will be through a private offering.
- The interest rate and other terms have yet to be determined.
- S&P Global Ratings assigned the planned debt a BB+ rating, and gave Coinbase a credit rating of BB+ as well.
STORY CONTINUES BELOW
UPDATE (SEPT. 13, 15:47 UTC): Adds S&P debt rating.
Sheldon Reback
Sheldon Reback is CoinDesk editorial's Regional Head of Europe. Before joining the company, he spent 26 years as an editor at Bloomberg News, where he worked on beats as diverse as stock markets and the retail industry as well as covering the dot-com bubble of 2000-2002. He managed the Bloomberg Terminal's main news page and also worked on a global project to produce short, chart-based stories across the newsroom. He previously worked as a journalist for a number of technology magazines in Hong Kong. Sheldon has a degree in industrial chemistry and an MBA. He owns ether and bitcoin below CoinDesk's notifiable limit.
