Crypto Exchange Coinbase unveils plan to raise $ 1.5 billion by selling bonds
Amid problems with the U.S. Securities and Exchange Commission (SEC), global cryptocurrency exchange Coinbase unveils plan to raise $ 1.5 billion by selling bonds.
Coinbase plans to issue $ 1.5 billion in bonds
Coinbase Global Inc. (Nasdaq: COIN) on Monday announced "its intention to offer, subject to conditions market and other factors, $ 1.5 billion initial amount of its senior notes due in 2028 and 2031 as part of a private offering. "
The company has explained that the Notes "will be fully and unconditionally guaranteed by Coinbase Inc. " and "The interest rate, repayment arrangements and other terms of each series of Notes will be determined by negotiations between Coinbase and the buyers initials. "The announcement details:
The crypto exchangeGlobal further stated that “neither the Notes nor the related collateral has been or will be registered under the Securities Act or the securities laws of any other jurisdiction. "
This announcement followed Coi nbase revealing that he had received a Wells notice from the SEC regarding his loan product. The regulator intends to sue the company if the product is launched, but Coinbase said: "We don't know why… We haven't received any explanation from the SEC.
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