Metaplanet Plans ¥52 Billion Convertible Bond Issuance to Repay Bitcoin-Backed Loan

PANews, October 14 - According to Metaplanet's official announcement, Japanese Bitcoin treasury company Metaplanet plans to issue zero-coupon unsecured convertible bonds totaling ¥52 billion (approximately $340 million), maturing on October 29, 2031, with an issuance date of October 29 and net proceeds of approximately ¥51.9 billion. Of this, approximately ¥23.6 billion will be used in November to partially repay a Bitcoin-backed credit facility, which has a maximum limit of $800 million and had approximately $650 million drawn as of September 30; up to ¥28.3 billion will be used for share buybacks from October to December, including an off-market repurchase of up to ¥25.3 billion planned for October 14 via ToSTNeT-3. The initial conversion price has not yet been determined.