Digital Currency Group Raises $600M in New Credit Facility

Digital Currency Group (DCG), the crypto investment company whose holdings include asset manager Grayscale, crypto lender Genesis and independent news outlet CoinDesk, said it raised $600 million in a new credit facility, marking its first entry into the debt capital markets.

“This financing strengthens our ability to respond dynamically to opportunities in the market,” said DCG Founder and CEO Barry Silbert in a statement.The credit facility’s administrative agent was Eldridge and the syndicate included institutional lenders and funds managed by Capital Group, Davidson Kempner Capital Management and Francisco Partners, among others.“We’re very pleased to partner with this cohort of high-quality institutional lenders and, as a profitable and rapidly growing company, we are fortunate to be able to access this growth financing with an attractive cost of capital,” Silbert said.The raise comes two weeks after DCG sold $700 million through a secondary stock sale led by a pair of SoftBank funds. The sale valued the company at $10 billion.

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