Coinbase to buy back up to $150M of its $1B bonds

2023-8-8 15:49

Coinbase’s partial bonds buyback targets up to $150 million of the $1 billion bonds. City Global Managers will be the offer’s dealer manager.

Coinbase said on Monday that it is commencing a partial repurchase of its $1 billion bonds.

Per the company, whose Q2, 2023 financial report came in stronger than forecast, the plan is to buy back up to $150 million of the 3.265% bonds. The bonds are set to mature in 2031.

Offer expires on September 1

A press release from Coinbase indicated that investors who tender their Notes for the purchase program before August 18 will be eligible for an early buy offer that includes a $30 premium. This group of holders will receive $645 per $1,000 of the bond’s principal amount, translating to 64.5 cents on each dollar.

Meanwhile, participants who validly offer to sell their bonds after August 18 but before the offer’s expiry date of September 1 will get $615 per $1000 of the bond’s principal value. In any case, both sets of participants will see a premium return on unaffected, preannouncement bond price of 60 cents per dollars’ worth.

Coinbase reported $708 million in revenue for the second quarter, beating analyst estimates of $628 million by more than 13%. Adjusted earnings per share loss came in at $0.42, compared to forecasts of $0.76.

Citigroup Global Markets will be the buyback program’s Dealer Manager.

The post Coinbase to buy back up to $150M of its $1B bonds appeared first on CoinJournal.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

UpToken (UP) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0008937 (-100%)

bonds coinbase partial billion said manager dealer

bonds coinbase → Результатов: 15


Bitcoin rallies to $12,300 on Argentinian exchange after unexpected Macri election result

Bitcoin skyrocketed to a $900 premium above Coinbase on Argentinian cryptocurrency exchange Buenbit Monday, the massive spike coming directly after the announcement of a primary election loss by President Macri and the nation’s stocks, bonds, and currency had been sent plummeting in one of the biggest intraday slides on record.

2019-8-13 12:25