Coinbase has unveiled plans to initiate a buyback of a portion of its $1 billion bonds.

The buyback initiative will see the San Francisco-based company repurchase up to $150 million of its $1 billion bonds set to mature in 2031, with Citigroup Global Markets managing the offer.

Coinbase’s tender offer is structured in a tiered manner, designed to incentivize early participation. Investors who choose to take part in the buyback and sell their bonds before August 18 will be rewarded with a premium of $645 for every $1,000 of the bond’s face value, translating to 64.5 cents on the dollar.

This offer includes a special early-tender premium of $30, the company said.

For investors who opt to sell their bonds after August 18 but before the offer expiration date of September 1, Coinbase will extend an offer of $615 for every $1,000 of the bond’s face value, equating to 61.5 cents on the dollar.

It’s noteworthy that both offer prices exceed the unaffected price of the bo

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Author: Andrew Asmakov

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