The leading US-based crypto exchange by trading volume is experiencing a drop in stock value while it announces a $2 billion debt offering.
Today, Coinbase Global (COIN) announced plans to offer $2 billion in convertible senior notes through a private placement to qualified institutional buyers.
The offering, which is subject to market conditions, includes $1 billion in notes due by 2029 and another $1 billion due by 2032. Coinbase says it may also grant initial purchasers options to buy up to an additional $150 million of each series within 13 days of issuance.
Coinbase says the notes will be senior, unsecured obligations and will accrue interest that can be paid out semiannually.
The notes will be convertible into cash, shares of Coinbase’s Class A common
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