Digital Currency Group Raises $600M in New Credit Facility

The financing follows a recent $700 million secondary equity transaction that valued the company at $10 billion.

AccessTimeIconNov 18, 2021 at 1:49 p.m. UTC
Updated May 11, 2023 at 7:04 p.m. UTC

Digital Currency Group (DCG), the crypto investment company whose holdings include asset manager Grayscale, crypto lender Genesis and independent news outlet CoinDesk, said it raised $600 million in a new credit facility, marking its first entry into the debt capital markets.

  • “This financing strengthens our ability to respond dynamically to opportunities in the market,” said DCG Founder and CEO Barry Silbert in a statement.
  • The credit facility’s administrative agent was Eldridge and the syndicate included institutional lenders and funds managed by Capital Group, Davidson Kempner Capital Management and Francisco Partners, among others.
  • “We’re very pleased to partner with this cohort of high-quality institutional lenders and, as a profitable and rapidly growing company, we are fortunate to be able to access this growth financing with an attractive cost of capital,” Silbert said.
  • The raise comes two weeks after DCG sold $700 million through a secondary stock sale led by a pair of SoftBank funds. The sale valued the company at $10 billion.
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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Aoyon Ashraf

    Aoyon Ashraf is managing editor with more than a decade of experience in covering equity markets


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