Coinbase to issue $1.5 billion of senior notes for general corporate purposes, including potential M&A

Coinbase to privately place $1.5 billion of senior notes due 2028 and 2031.

The Coinbase cryptocurrency exchange проведет private placement of two series of senior notes with a redemption right in 2028 and 2031, for a total face value of $1.5 billion.

The proceeds will be used for general corporate purposes, including product development and potential participation in M&A.

The securities will be eligible for purchase by qualified institutional buyers in the United States under Rule 144A of the Securities Act, and by non-residents under Regulation S of the same document.

The notes will be guaranteed by Coinbase Inc., the subsidiary of the cryptocurrency exchange.

Terms of the offering will be determined after discussions with potential investors. The closing of the deal depends on market conditions.

In May, Coinbase announced a private placement of convertible bonds totaling $1.25 billion maturing in 2026.

In April, CEO Brian Armstrong forecast that the company’s non-trading business would significantly grow over the long term thanks to investments in new areas.

In September, top management disclosed information about disagreements with SEC regarding the announced crypto-savings accounts based on the stablecoin USDC.

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