Metaplanet Plans $329 Million Bond Sale to Repay…
By Abdelaziz Fathi
AI summary of the source article
Metaplanet is raising ¥52 billion ($329 million) through zero-coupon convertible bonds due in 2031. The proceeds will fund share repurchases and repay Bitcoin-backed borrowings rather than acquire additional Bitcoin.
Why it matters
Metaplanet stated that reducing leverage should give it "enough financial flexibility to avoid being forced to sell Bitcoin during a further market decline."
Key facts
- Metaplanet will use approximately ¥23.6 billion to repay borrowings and up to ¥28.3 billion to fund share buybacks.
- As of September 30, the firm had about $649.5 million outstanding under an $800 million Bitcoin-collateralized facility, representing 17.7% of its Bitcoin NAV.
- None of the proceeds are intended for additional Bitcoin purchases, leaving its treasury at 44,000 BTC.
Source excerpt · FinanceFeeds
Metaplanet is raising ¥52 billion ($329 million) through zero-coupon convertible bonds, using the financing to reduce Bitcoin-backed borrowing and repurchase shares rather than add to its 44,000 BTC treasury. The Tokyo-listed company expects approximately ¥51.9 billion in net proceeds from the Euro-yen convertible bonds due in 2031. Around ¥23.6 billion will repay borrowings in November, while as…