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Ripple Prime Closes $275 Million of KBRA BBB Senior Notes:

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2 hours ago

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HedgeCo.Net — Ripple said on August 18 that Ripple Prime had closed an upsized $275 million private placement of senior unsecured notes. The offering is the unit’s inaugural notes issue. Piper Sandler led. Kroll Bond Rating Agency assigned the notes BBB, matching the issuer rating it had already given Ripple Prime. Proceeds are for working capital and general corporate purposes inside a regulated entity, to support U.S. clearing, prime brokerage, and financing.
Ripple Prime is Ripple’s non-bank...

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