Press Release November 19, 2021

Digital Currency Group Raises New $600 Million Credit Facility

The Digital Currency & Blockchain Technology team advised Digital Currency Group (DCG) on its debt capital raise providing a credit facility up to $600 million. The financing marks the company’s first entry into the debt capital markets and follows a recent $700 million secondary equity transaction led by SoftBank Group. The debt financing enhances DCG’s strategic, operational, and financial capabilities by reducing DCG’s cost of capital and fueling the growth of its investment portfolio and wholly-owned subsidiaries. Eldridge led and served as administrative agent of the credit facility, which includes a syndicate of institutional lenders and funds managed by Capital Group, Davidson Kempner Capital Management, and Francisco Partners, among others.

DCG is an industry-leading cryptocurrency and blockchain-focused conglomerate with holdings that include operating subsidiaries Grayscale, Genesis, Foundry, Luno, CoinDesk, and TradeBlock, in addition to hundreds of minority investments in companies within such vertical.

The Goodwin team was led by Richard Garvan, Jonathan Scott, and Siobhan McNulty.

For more details, read the press release.