Bloomberg Tax
Aug. 21, 2023, 2:43 PM

Coinbase Sweetens Offer to Buy Back Bonds at Discounted Prices

Tanaz Meghjani

Coinbase Global Inc. is sweetening its offer to buy back debt after investors agreed to tender a third of the bonds the company was seeking.

Creditors of the crypto exchange turned in 3.625% notes due 2031 worth $50 million at face value by an early deadline, according to a statement Monday. Coinbase was seeking up to $150 million of the bonds. It increased its compensation for the bonds to 67.5 cents on the dollar, up from the 64.5 cents it was offering when it announced the tender Aug. 7.

Investors who have already turned in their notes are eligible to ...

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