Other DebtExpired
Coinbase BTC-Backed Credit Facility
Coinbase Credit Facility
$12.82▲ 5.34%
BTC Holdings
13,561 BTC
Total Debt
$1.81B
Leverage
124.3%
mNAV
3.01x
Outstanding
$0.00
Issue date
2024-08-07
Principal
$300.00M
Coupon
8.25%
Maturity
—
Conversion price
—
Terms & Documentation
Terms
- BTC strategy
- No
- Ranking
- Secured
- Facility type
- Revolving
- Rate type
- Fixed
- Collateral
- BTC-collateralized; Coinbase may sell, pledge or rehypothecate posted bitcoin
- Covenants
- Collateral LTV must remain <= 64%; margin call if collateral value decreases past specified margin
- Prepayment
- Either party may terminate with two days' notice
Outstanding History
Outstanding history(3)
| As of | Event | Outstanding |
|---|---|---|
| 2025-12-31 | Repayment | $0.00 Fully repaid in Nov 2025 using convertible note proceeds |
| 2025-09-30 | — | $174.50M |
| 2024-08-07 | Issuance | $300.00M |
- 2025-12-31 — $0Cash Flow Statement
- 2025-09-30 — $174,500,000Note 13 — Indebtedness
- 2024-08-07 — $300,000,000