(Bloomberg) -- Coinbase Global Inc. is increasing and extending a debt tender offer after sweetening the buyback with discounted prices last month.
The San Francisco-based cryptocurrency exchange is increasing the offer to $180 million from $150 million for its outstanding 3.625% senior notes maturing in 2031, according to a company statement Tuesday. It’s also extending the expiration date on the offer by over two weeks to Sept. 18.
The move comes after Coinbase increased its compensation on Aug. 21 for the bonds to 67.5 cents on the dollar from the 64.5 cents it offered investors when the tender was first announced earlier last month.
Creditors to the exchange turned in the notes worth $50 million at face value by an early deadline, with an additional $211 million were tendered subsequently, according to the statement. There was $1 billion in aggregate principal of the bonds due 2031 outstanding.
Citigroup Global Markets Inc. is serving as dealer manager for the tender offer. A representative for Coinbase didn’t immediately respond to a request for comment.
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