{"id":53739,"date":"2021-11-29T17:05:22","date_gmt":"2021-11-29T15:05:22","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=53739"},"modified":"2025-09-03T16:43:15","modified_gmt":"2025-09-03T13:43:15","slug":"galaxy-digital-to-issue-500-million-convertible-senior-notes","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/galaxy-digital-to-issue-500-million-convertible-senior-notes\/","title":{"rendered":"Galaxy Digital to issue $500 million convertible senior notes"},"content":{"rendered":"<p>The crypto-trading bank Galaxy Digital <a href=\"https:\/\/investor.galaxydigital.io\/news\/news-details\/2021\/Galaxy-Digital-Announces-Pricing-of-500-Million-Exchangeable-Senior-Notes-Offering\/default.aspx\">\u043e\u0431\u044a\u044f\u0432\u0438\u043b<\/a> about the issuance of convertible senior notes worth $500 million due December 15, 2026.<\/p>\n<p>According to the press release, the offering of notes with a 3% coupon will be conducted via a private placement with participation from several buyers, including entities affiliated with Arca, NZ Funds, Senator Investment Group, and XN.<\/p>\n<p>The offering is expected to close in early December 2021 after approval by the Toronto Stock Exchange.<\/p>\n<p>The proceeds will be used to accelerate growth initiatives across its business lines and for general corporate purposes.<\/p>\n<p>The company also said that the board of directors approved the proposed corporate reorganization in connection with the move from Canada to the United States.<\/p>\n<p>During the reorganization, Galaxy Digital Holdings&#8217; common shares will automatically convert into Class A common stock of the newly registered Delaware holding company Galaxy Digital Inc.<\/p>\n<p>During certain periods, bondholders will be able to exchange them for the company&#8217;s shares, both those currently outstanding and those issued after the reorganization.<\/p>\n<p>The notes are available only to qualified institutional buyers and are general unsecured obligations of the issuer.<\/p>\n<p>Earlier in November, the British mining company Argo Blockchain <a href=\"https:\/\/forklog.com\/en\/news\/argo-blockchain-to-raise-57-5-million-in-debt-financing\">\u0430\u043d\u043e\u043d\u0441\u0438\u0440\u043e\u0432\u0430\u043b\u0430<\/a> the US bond issue. The firm intends to offer notes with a coupon rate of 8.75% for $57.5 million.<\/p>\n<p>In June, Galaxy Digital <a href=\"https:\/\/forklog.com\/en\/news\/argo-blockchain-secures-galaxy-digital-loan-to-build-texas-mining-pool\">provided<\/a> Argo with a loan of \u00a314 million (~$19.4 million) secured by Bitcoin.<\/p>\n<p>Subscribe to ForkLog news on <a href=\"https:\/\/vk.com\/forklogcom\" target=\"_blank\" rel=\"nofollow noopener\">VK<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The crypto-trading bank Galaxy Digital announced the issuance of $500 million convertible senior notes due December 15, 2026.<\/p>\n","protected":false},"author":1,"featured_media":53740,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1431,770],"class_list":["post-53739","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bonds","tag-galaxy-digital"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/53739","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=53739"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/53739\/revisions"}],"predecessor-version":[{"id":53741,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/53739\/revisions\/53741"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/53740"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=53739"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=53739"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=53739"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}