Coinbase plans to buy back corporate bonds

<img width="562" height="375" src="https://www.leaprate.com/wp-content/uploads/2017/11/Coinbase.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="Coinbase plans to buy back corporate bonds" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2017/11/Coinbase.jpg 1500w, https://www.leaprate.com/wp-content/uploads/2017/11/Coinbase-768×512.jpg 768w, https://www.leaprate.com/wp-content/uploads/2017/11/Coinbase-245×163.jpg 245w, https://www.leaprate.com/wp-content/uploads/2017/11/Coinbase-500×333.jpg 500w" sizes="(max-width: 562px) 100vw, 562px" /><p>Citigroup Global Markets will handle this offer, which follows a tiered structure that rewards early engagement. This entails a premium of $645 for every $1,000, or 64.5 cents per dollar, of a bond’s value for those selling their bonds before 18 August 2023. The deal includes a special early-tender premium of $30.</p>
<hr />
<p><a href="https://finaffiliates.us20.list-manage.com/subscribe/post?u=e0dd4d77c259eb270712a4eeb&amp;id=fd200b8f75&amp;v_id=4291&amp;f_id=00946ce6f0" target="_blank" rel="noopener"><em>Don’t miss out the latest news, subscribe to LeapRate’s newsletter</em></a></p>
<hr />
<p>Investors choosing to part with their bonds after 18 August 2023 but before the cut-off date, will receive $615 for every $1,000 of a bond’s nominal value or 61.5 cents per dollar. Interestingly, these offer prices top the price of the bond, which remained unchanged as of 4 August 2023.</p>
<p>At this stage, there has been no comment from the <a href="https://www.leaprate.com/cryptocurrency/exchange/coinbase-introduces-international-crypto-exchange/" target="_blank" rel="noopener">Coinbase</a> camp, but experts believe a strong Q2 motivated the gesture. For this period, the company reported revenues of $708m and an adjusted earnings-per-share loss of $0.42. This trumped analyst predictions of $628m in revenue and an adjusted earnings-per-share loss of $0.76. Despite a drop in revenue achieved in 2022, Coinbase clawed itself back from a crippling $4.98 earnings-per-share loss recorded during the same period last year.</p>
<p>The post <a rel="nofollow" href="https://www.leaprate.com/news/coinbase-plans-to-buy-back-corporate-bonds/">Coinbase plans to buy back corporate bonds</a> appeared first on <a rel="nofollow" href="https://www.leaprate.com">LeapRate</a>.</p>