Other DebtActive
Coinbase Credit Facility
Coinbase Credit Facility
$18.68▲ 0.97%
BTC Holdings
15,679 BTC
Total Debt
$853.68M
Leverage
51.4%
mNAV
5.62x
Outstanding
$200.00M
Issue date
2025-04-22
Principal
$200.00M
Coupon
—
Maturity
2027-04-21
Conversion price
—
- 1-year term with optional 1-year extension
Terms & Documentation
Terms
- BTC strategy
- No
- Ranking
- Senior secured
- Facility type
- Term loan
- Rate type
- Fixed
- Collateral
- Bitcoin, USDC and cash held in segregated custody with Coinbase Custody Trust Company, LLC
- Covenants
- LTV-based collateral maintenance; mandatory prepayment upon change of control, collateral LTV breach, or security interest becoming unenforceable
- Prepayment
- Voluntary prepayment at any time with 2 business days notice, minimum $5M if partial. Early termination fees may apply.
Participants
Holders & Underwriters(1)
- Form 8-K ($100M Coinbase …Coinbase Credit, Inc.holder$100Mas of 2025-04-22Sole lender and administrative agent
Outstanding History
Outstanding history(4)
| As of | Event | Outstanding |
|---|---|---|
| 2026-03-31 | — | $200.00M |
| 2025-12-31 | — | $200.00M |
| 2025-09-30 | — | $200.00M |
| 2025-04-22 | Issuance | $200.00M |
- 2026-03-31 — $200,000,000Note 11. Debt — $200 Million Credit Facility
- 2025-12-31 — $200,000,000Note 12 — Debt
- 2025-09-30 — $200,000,000Note 12 — Debt
- 2025-04-22 — $200,000,000