Coinbase Exchange to Raise $1.5B In A Private Bond Offering for Development and Acquisitions

2021-9-13 17:38

Cryptocurrency exchange Coinbase is looking to raise $1.5 billion in a debut bond offering, according to a statement on Monday.

These notes that will be sold through a private offering will be due in 2028 and 2031, the company said. The interest rate and other terms of the offering are not yet defined, to be determined by negotiations between Coinbase and the initial purchasers.

“This capital raise represents an opportunity to bolster our already strong balance sheet with low-cost capital,” the company added.

Coinbase plans to use these funds for general corporate purposes, including product development and potential investments or acquisitions.

The US-based exchange is a Nasdaq-traded company that went public through direct listing in April. COIN share prices dropped more than 6% on Monday and are trading at $242.61, as of writing, on a decline since earlier this month.

San Francisco-based exchange is taking advantage of the buoyant market sentiments, with the valuations in the private market still rising with more and more institutions coming with tons of new capital before the bull cycle ends and a crypto winter comes.

As we reported, Coinbase has amassed $4.36 billion in cash to prepare for a “crypto winter” so that they can “continue to grow our products and services” even then.

The post Coinbase Exchange to Raise .5B In A Private Bond Offering for Development and Acquisitions first appeared on BitcoinExchangeGuide.

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Источник: bitcoinexchangeguide.com

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