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Ripple Prime raised $275M in an upsized private placement of senior notes
@Ripple said the senior unsecured notes drew institutional investors across major financial markets, with Piper Sandler as lead placement agent. Proceeds go to working capital and general corporate purposes.
KBRA rated the notes BBB, matching the issuer rating it gave Ripple Prime in April. The brokerage secured a $200M debt facility from Neuberger Specialty Finance last May. Ripple acquired Hidden Road (now Ripple Prime), for $1.25B in 2025.
