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 12:02 p.m. UTC
Updated Sep 13, 2021 at 6:31 p.m. UTC

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.

Sheldon Reback is a CoinDesk news editor based in London. He owns a small amount of ether.

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