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Ledn taps Bitcoin-Backed Bonds for $188 Million Offering

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Source: The Block
Ledn taps Bitcoin-Backed Bonds for $188 Million Offering
Photo: The Block
TL;DR

Ledn sold $188 million in bonds secured by bitcoin, with Jefferies as structuring agent and bookrunner. The two-tranche deal is backed by 4,078.87 BTC (about $357 million) and includes an investment-grade tranche priced at 335 basis points over the benchmark rate, and carries a BBB- rating, signaling growing demand for bitcoin-backed credit.

Topics:businessmarkets#bitcoin#bonds#jefferies#ledn#markets#note-jefferies-appears-twice-only-five-allowed#securitized-bonds
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  1. Ledn sells $188 million worth of bitcoin-backed bonds: Bloomberg  The Block
  2. Crypto Firm Ledn Sells Bitcoin-Backed Bonds In ABS Market First  Bloomberg.com
  3. Coinbase and Ledn Strengthen Crypto Lending Push Despite Market Slump  Yahoo Finance
  4. Ledn Completes First Bitcoin-Backed Bond Sale After Liquidating 25% Of Loans During Price Crash  Yellow.com
  5. First Bitcoin securitization priced, at or inside IPTs  GlobalCapital

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