MicroStrategy ökar Bitcoin-Linked Junk Bond till 500 miljoner dollar

On Tuesday, MicroStrategy Inc. raised the size of a junk bond sale to buy more Bitcoin, selling $500 million notes in the high-yield market. According to its officiellt tillkännagivande, the notes will be sold in a private offering to qualified institutional buyers. Furthermore, it is expected to close on June 14, 2021, subject to satisfaction of customary closing conditions.

michael saylor, CEO and Chairman of MicroStrategy (MSTR) further announced this on a tweet saying, ’MicroStrategy announces pricing of $500 Million of 6.125% Senior Secured Notes due 2028 to acquire additional Bitcoin’

Originally, the company planned to issue $400 million of debt but they saw a high demand on its launch date. Hence, it sold the secured notes at a yield of 6.125%. On a previous announcement, Saylor tweeted,

By far, they already issued convertible bonds worth around $1 billion in its aims to scoop up more BTC. Detta är dock den första försäljningen av företagsobligationer någonsin med intäkter som är öronmärkta för sådana inköp, eftersom Saylor fortsätter sin strävan att göra den till en officiell företagsstrategi.

Micro is the largest independent publicly traded business intelligence firm. The company has been consistently köpt bitcoins sedan 2020. Apart from this, the company said that its existing 92,079 bitcoins will be held by a newly formed subsidiary, MacroStrategy LLC.

It should be noted, a bond is a debt or a promise to pay investors interest payments along with the return of invested principal in exchange for buying the bond. However, junk bonds are those that carry a higher risk of default than most bonds issued by the government and corporations.

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Source: https://coinquora.com/microstrategy-boosts-bitcoin-linked-junk-bond-to-500m/