Coinbase’s $2 Billion Senior Notes Offering

Fenwick & West advised Coinbase on the deal.

Coinbase Global, Inc. (Nasdaq: COIN), a leading provider of end-to-end financial infrastructure and technology for the cryptoeconomy, announced its offering of $2.0 billion aggregate principal amount of its 3.375% senior notes due 2028 and its 3.625% senior notes due 2031 in a private offering. The aggregate principal amount of the offering was increased from the previously announced offering size of $1.5 billion due to market interest.

Coinbase intends to use the net proceeds from the offering for general corporate purposes, which may include continued investments in product development, as well as potential investments in or acquisitions of other companies, products or technologies that Coinbase may identify in the future. The notes and the related guarantee were offered and sold by means of a private offering memorandum to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A promulgated under the Securities Act of 1933, as amended.

The Fenwick transaction team included corporate partners David Michaels (Picture), Michael Brown, Ran Ben-Tzur and Aman Singh, and corporate associates Chelsea Anderson, Lillian Icard, Lailey Rezai, Frances Fuqua, Sloka Tankala and Atrina Mehdipour; and tax partner Will Skinner.

Involved fees earner: Chelsea Anderson – Fenwick & West LLP; Ran Ben-Tzur – Fenwick & West LLP; Michael Brown – Fenwick & West LLP; Frances Fuqua – Fenwick & West LLP; Lillian Icard – Fenwick & West LLP; Atrina Mehdipour – Fenwick & West LLP; David Michaels – Fenwick & West LLP; Lailey Rezai – Fenwick & West LLP; Aman Singh – Fenwick & West LLP; William Skinner – Fenwick & West LLP; Sloka Tankala – Fenwick & West LLP;

Law Firms: Fenwick & West LLP;

Clients: Coinbase Inc.;

Author: Martina Bellini