Ledn Completes $188M Bitcoin-Backed Securitized Bond Offering with $357M Collateral

Ledn completed a $188 million securitized bond offering backed by Bitcoin, Odaily Planet Daily reports. The deal features two tranches, with the investment-grade portion priced at 335 basis points over the benchmark rate. Collateral totals about 4,078.87 Bitcoin, valued near $357 million. S&P Global rated most of the bonds BBB, and Jefferies Financial Group structured and bookran the issuance.