Cointelegraph reports that coinbase, one of the biggest cryptocurrency exchanges in the united states, has disclosed their intention to raise $1.5 billion via a debt offering. the cryptocurrency exchange, which is listed on the nasdaq, plans to utilize the money it has raised to grow its balance sheet, which may include future investments and acquisitions of other businesses, products, or technological innovations.

senior notes due 2028 and 2031 with an aggregate principal amount of $1.5 billion will be offered in the current round. they will be fully guaranteed by coinbase inc., which is a wholly owned coinbase subsidiary that serves as the business’s holding company, and will be fully guaranteed by coinbase inc. in the subsequent round. the interest rate, redemption conditions, and other terms of the capital raising will be negotiated between the company and the initial buyers, according to the agreement.

following the issuance of a private offering memorandum, coinbase said that the notes and associated guarantee will only be offered and sold to individuals who are “reasonably regarded to be qualified institutional purchasers” under local securities regulations and who reside outside of the united states.

“neither the notes nor the accompanying guarantee have been or will be registered under the securities act or the securities laws of any other nation, and they will not be registered under such laws.

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