Ripple has completed a private placement of senior unsecured notes that was upsized to $275 million, according to The Block. The notes were issued by Ripple Prime, the company’s non-bank prime broker. Proceeds from the sale are set to support working capital needs and the expansion of Ripple’s business in the United States. The issuance received a BBB investment-grade rating from KBRA. Ripple Prime also plans to expand its multi-asset clearing, financing, and prime brokerage services. The deal adds a funding move and a credit-rating detail to Ripple’s U.S. growth plans, while highlighting the role of Ripple Prime in the company’s institutional service push.
Ripple has completed a private placement of senior unsecured notes that was upsized to $275 million, according to The Block.
The notes were issued by Ripple Prime, Ripple’s non-bank prime broker. Proceeds will be used for working capital and to expand the company’s U.S. business.
The issuance received a BBB investment-grade rating from KBRA. Ripple Prime plans to expand its multi-asset clearing, financing, and prime brokerage services.
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