Coinbase to redeem $150 million of its 2031 senior notes

According to Cointelegraph, Coinbase, a cryptocurrency exchange, will begin buying back about $150 million of its 2031 senior notes for 64.5 cents on the dollar, which is a discount of about 35.5%.

With insights from an announcement made on August 7, 2023, the tender offer is valid till September 1, 2023, with an early premium of three cents on the dollar on top of the regular purchase price. It is expected that the 2031 senior notes have a coupon rate of 3.625% per annum and a total principal balance of $1 billion, Cointelegraph added.