Coinbase to Buy Back Junk Bonds as Bitcoin Nears 2023 High
- Crypto exchange will redeem its 3.625% notes due October 2031
- Investors can receive as much as $645 per $1,000 of principal
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Coinbase Global Inc. is offering to buy back some of its outstanding junk bonds as the world’s largest cryptocurrency trades at $29,560, near its highest value of the year.
The crypto exchange is offering to redeem as much as $150 million of its 3.625% notes due October 2031, according to a Monday statement. Investors who tender will be eligible to receive between $615 and $645 per $1,000 of principal, according to the statement. The offer will expire Sept. 1 at 11:59 p.m. New York time.