[Ledn Issues $188 Million Bitcoin-Backed Bonds] Odaily Planet Daily News: Crypto lending company Ledn has completed a $188 million Bitcoin-backed securitized bond issuance. The transaction includes two tranches of bonds, with the investment-grade portion priced at 335 basis points above the benchmark rate. Approximately 4,078.87 Bitcoins were used as collateral for the bonds, with a fair value of approximately $357 million. S&P Global assigned a BBB- rating to most of the bonds. Ledn primarily provides Bitcoin-collateralized lending services and has issued billions of dollars in loans since its inception. Previously, stablecoin issuer Tether invested in Ledn in November last year. Jefferies Financial Group acted as the structuring agent and bookrunner for this bond issuance.