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Coinbase Announces Proposed Private Offering of $1.5 Billion of Senior Notes

Coinbase Announces Proposed Private
  • Coinbase announced a proposed private offering of $1.5 billion of Senior Notes.
  • The Senior Notes that may be offered will be due on 2028 and 2031.
  • Details of the offering will be presented by Coinbase to initial purchasers.

Coinbase Global, Inc. recently announced its intent to offer $1.5 billion Senior Notes. The Senior Notes that may be offered will be due in 2028 and 2031. According to the released information, the notes will be offered privately and will be “fully and unconditionally guaranteed by Coinbase, Inc.”

Details such as the interest rate, redemption provisions, and other terms will be presented during the negotiations between the initial buyers and Coinbase.

In the same announcement, Coinbase mentioned that,

This capital raise represents an opportunity to bolster our already strong balance sheet with low-cost capital.

With this, the company wants to use the funds for general corporate purposes. This may include investments in product developments and acquisitions. Companies, products, or technologies that Coinbase may identify in the future may be acquired to improve the company’s ecosystem.

Senior Notes are a type of bond that gives investors a higher priority claim than Junior Notes. The announcement also mentions that the notes and related guarantees will only be sold to qualified institutional buyers.

Joseph Joestar is a CoinQuora contributor. He works in various blockchain marketing content projects, specializing in written content such as technical whitepapers, press releases, and articles.