Coinbase reports subdued interest in debt buyback adjusts offer
Coinbase’s announcement on Aug. 21 disclosed that their buyback program, initiated earlier this month, has garnered slightly above $50 million in bond tenders. As a response, the exchange has increased its offer ing on the 3.625% Senior Notes maturing in 2031 from 64.5 cents to 67.5 cents on the dollar in a recent release from Coinbase. Debt before the storm Coinbase shared the early tender results of its offer made on Aug. 7 to purchase in cash up to $150 million, excluding unpaid interest of its Senior Notes due in 2031. The results of their program fell $100 million short, where the total raised is currently sitting at $50,034,000. Back in September 2021, a sum of $1 billion in Coinbase 3.625% Senior Notes, set to mature in 2031, made their debut just before the advent of the cryptocurrency bear market, trading at nearly par value. Later it was outlined in their filing with the United States Securities and Exchange Commission (SEC) in May 2022 that Coinbase ca...