Coinbase to Sell $1.5B of 7-Year, 10-Year Debt

Coinbase, the Nasdaq-traded crypto exchange, said it plans to sell $1.5 billion of debt through a private offering.

• The notes will become due in 2028 and 2031, the company said.
• The funds will be used for general purposes, which may include product development and possible acquisitions of other companies.
• The sale will be through a private offering.
• The interest rate and other terms have yet to be determined.
• S&P Global Ratings assigned the planned debt a BB+ rating, and gave Coinbase a credit rating of BB+ as well.

UPDATE (SEPT. 13, 15:47 UTC): Adds S&P debt rating.