Metaplanet to issue $329M convertible bonds to repay debt and fund share buybacks

Metaplanet plans to issue 52 billion yen ($329 million) in zero-coupon, euro-yen convertible bonds due in 2031. The company intends to use approximately 23.6 billion yen ($149 million) to repay Bitcoin-collateralized loans and 28.3 billion yen ($179 million) for share buybacks, as announced on Tuesday. Metaplanet holds 44,000 BTC, valued at $3.6 billion, and is the second-largest Bitcoin treasury firm, aiming to improve its debt structure without selling any BTC holdings.