DCG taps debt markets for $600 million through credit facility

Nov 18, 2021 | The Block News | 0 comments

dcg-taps-debt-markets-for-$600-million-through-credit-facility

Digital Currency Group (DCG) announced Thursday the completion of a $600 million debt capital deal led by private equity firm Eldridge.

According to a press release released on November 18, the deal, which provides DCG with a credit facility from which the firm can draw as needed, “enhances DCG’s strategic, operational, and financial capabilities by reducing DCG’s cost of capital and fueling the growth of its investment portfolio and wholly-owned subsidiaries,” the company said.

Capital Group, Davidson Kempner Capital Management, and Francisco Partners participated in the deal.

DCG also plans to use the fresh capital influx to finance the growth of its investment portfolio as well as the company’s wholly-owned subsidiaries. The crypto investment firm is the parent company of Grayscale Investments, the largest crypto asset manager with over $50 billion in assets under management.

Thursday’s announcement marks the company’s maiden foray into the debt capital market.

The debt capital deal comes barely a fortnight after the company secured a $10 billion valuation after conducting a secondary investment round that included backers like SoftBank Group.

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

News Source from TheBlockCrypto.com

Related Articles

Xinfin Network All Set to Launch the Much-awaited Andromeda Upgrade

Xinfin Network All Set to Launch the Much-awaited Andromeda Upgrade

The Andromeda Upgrade of the Xinfin Network is ready to go. On December 1, 2021, the XDC Network will debut its XDPoS consensus protocol at block 38383838 as per the estimated target time on BlocksScan.io The Apothem network’s protocol team tested the upgrade on the...

Pin It on Pinterest

Share This