Ledn issues $188 million in bitcoin-backed securitized bonds with BBB- S&P rating

On Feb. 9, S&P Global reported that Ledn's new bitcoin-backed securitized bonds, totaling $188 million, are mainly rated BBB-. The deal, structured and bookrun by Jefferies Financial Group, is collateralized by 4,078.87 BTC valued at about $356.9 million. Bitcoin was trading at $66,329.34 at 4:54 p.m. ET, down nearly 30% over the past month.