Coinbase to Sell $1.5B of 7-Year, 10-Year Debt
The funds will be used for general corporate purposes, which may include acquisitions.
Sep 13, 2021 at 6:31 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/3GDCAAQOBFGAHDBAYYD7KR4JE4.jpg)
Coinbase CEO Brian Armstrong
Sheldon Reback is a CoinDesk news editor based in London. He owns a small amount of ether.
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.
UPDATE (SEPT. 13, 15:47 UTC): Adds S&P debt rating.
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Sheldon Reback is a CoinDesk news editor based in London. He owns a small amount of ether.
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Sheldon Reback is a CoinDesk news editor based in London. He owns a small amount of ether.
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