{"id":22772,"date":"2023-08-08T13:15:12","date_gmt":"2023-08-08T13:15:12","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/coinbase-announces-150m-bonds-buyback\/"},"modified":"2023-08-08T13:15:12","modified_gmt":"2023-08-08T13:15:12","slug":"coinbase-announces-150m-bonds-buyback","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/coinbase-announces-150m-bonds-buyback\/","title":{"rendered":"Coinbase announces $150M bonds buyback"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/04\/1682426038697-6b09e9d9-2d12-4c2e-b5aa-d52babc26bba-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/04\/1682426038697-6b09e9d9-2d12-4c2e-b5aa-d52babc26bba-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/04\/1682426038697-6b09e9d9-2d12-4c2e-b5aa-d52babc26bba-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/04\/1682426038697-6b09e9d9-2d12-4c2e-b5aa-d52babc26bba-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">Coinbase\u2019s partial bonds buyback targets up to $150 million of the $1 billion bonds.<\/li>\n<li dir=\"ltr\">City Global Managers will be the offer\u2019s dealer manager.<\/li>\n<\/ul>\n<p dir=\"ltr\"><a href=\"https:\/\/coinjournal.net\/exchanges\/coinbase\/\">Coinbase<\/a> said on Monday that it is commencing a partial repurchase of its $1 billion bonds.<\/p>\n<p dir=\"ltr\">Per the company, whose Q2, 2023 financial report came in stronger than forecast, the plan is to buy back up to $150 million of the 3.265% bonds. The bonds are set to mature in 2031.<\/p>\n<h2 dir=\"ltr\">Offer expires on September 1<\/h2>\n<p dir=\"ltr\">A <a href=\"https:\/\/investor.coinbase.com\/news\/news-details\/2023\/Coinbase-Commences-Cash-Tender-Offer-for-Up-to-150.0-Million-Aggregate-Purchase-Price-of-its-Outstanding-3.625-Senior-Notes-Due-2031\/default.aspx\" rel=\"noopener noreferrer\" target=\"_blank\">press release<\/a> from Coinbase indicated that investors who tender their Notes for the purchase program before August 18 will be eligible for an early buy offer that includes a $30 premium. This group of holders will receive $645 per $1,000 of the bond\u2019s principal amount, translating to 64.5 cents on each dollar.<\/p>\n<p dir=\"ltr\">Meanwhile, participants who validly offer to sell their bonds after August 18 but before the offer\u2019s expiry date of September 1 will get $615 per $1000 of the bond\u2019s principal value. In any case, both sets of participants will see a premium return on unaffected, preannouncement bond price of 60 cents per dollars\u2019 worth.<\/p>\n<p dir=\"ltr\">Coinbase reported $708 million in revenue for the second quarter, beating analyst estimates of $628 million by more than 13%. Adjusted earnings per share loss came in at $0.42, compared to forecasts of $0.76.<\/p>\n<p dir=\"ltr\">Citigroup Global Markets will be the buyback program\u2019s Dealer Manager.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/coinbase-to-buy-back-up-to-150m-of-its-1b-bonds\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Coinbase\u2019s partial bonds buyback targets up to $150 million of the $1 billion bonds. City Global Managers will be the offer\u2019s dealer manager. Coinbase said on Monday that it is commencing a partial repurchase of its $1 billion bonds. Per the company, whose [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":22773,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/22772"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=22772"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/22772\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/22773"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=22772"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=22772"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=22772"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}