Crypto Exchange Coinbase Unveils Plan to Raise $1.5 Billion by Selling Bonds
Amid trouble with the U.S. Securities and Exchange Commission (SEC), global cryptocurrency exchange Coinbase unveils its plan to raise $1.5 billion by selling bonds. Coinbase Plans to Issue $1.5 Billion in Bonds Coinbase Global Inc. (Nasdaq: COIN) announced Monday “its intention to offer, subject to market conditions and other factors, $1.5 billion aggregate principal amount of its Senior Notes due 2028 and 2031 in a private offering.” The company explained that the notes “will be fully and unconditionally guaranteed by Coinbase Inc.” and....
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China Construction Bank, one of the “big four” banks in China, is selling $3 billion in bonds that can be paid for with bitcoin. The bonds will be listed on a regulated Malaysian digital asset exchange. Beijing-based China Construction Bank (CCB) is selling $3 billion in bonds for bitcoin and U.S. dollars through its unit in Malaysia, the South China Morning Post reported Wednesday. This is the first digital security issued by a Chinese bank on a blockchain, the publication added, noting: The deal also allows investors to trade these China Construction Bank’s digital....
In a recent development, Coinbase issued a junk bond, and the market seemed to be hungry for the instrument. Currently, the US crypto exchange is recording more demands for these bonds every day. With these demands, the crypto exchange’s sales have grown from $1.5B to $2B. Bonds are fixed investments that yield interest monthly. But when we talk of junk bonds, investors make higher returns but face higher risks as well. Companies usually issue junk bonds to raise capital very fast for a major project. Corporate Bond Orders Keep Rising The orders have continued to troop in for the....
Coinbase has sold $2 billion worth of corporate bonds in an offering that saw $7 billion worth of bids placed. Leading U.S.-based cryptocurrency exchange Coinbase has seen enormous demand for its junk bond offering, with the firm increasing the size of the sale by one-third from $1.5 billion to $2 billion.According to Economic Times, at least $7 billion worth of orders were placed in competition for equal quantities of seven and 10-year bonds, offering interest rates of 3.375% and 3.625% respectively.The publication cites an anonymous source as claiming the interest rates were cheaper than....
Coinbase announced a $1.5 billion bond sale shortly after the SEC threatened to sue the firm over its lending program. Coinbase, the largest cryptocurrency exchange in the United States, is planning to raise $1.5 billion via a debt offering, the company officially announced Sept. 13.The Nasdaq-listed crypto exchange is looking to use the capital raised to further grow the company’s balance sheet for general corporate purposes as well as potential investments and acquisitions of other companies, products or technology, Coinbase said.The news comes amid Coinbase facing increased attention....
China Construction Bank has used blockchain technology to issue the first tranche of a planned $3 billion worth of debt. China Construction Bank has partnered with a Hong Kong-based fintech to issue the first-ever blockchain-based digital security issued by a Chinese financial institution.One of the "Big Four" banks in the People's Republic of China, CCB is ranked the second largest bank worldwide by total assets as of fall 2020.The megabank's plan with the new blockchain-based debt issuance is to raise up to $3 billion in total, starting with a tranche of $58 million, from individuals and....