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Coinbase debtholders sweat as bonds trade near 50 cents on the dollar
- bragr 4y ago>The firm currently has a Ba3 rating on the corporate family, which is three notches below investment grade. It has a Ba2 rating on the bonds, one notch higher. That's not a good rating but does debt in that range usually trade for 50% face value?
- Donald 4y agoCoinbase's 2031 notes are rated Ba2 and are trading at about a 13% yield. As a point of comparison, Murphy Oil USA also has Ba2 2031 notes with comparable coupon that are trading only at about a 6% yield.