Metaplanet borrows to fund buybacks, repay loans as ¥52B bond buys zero Bitcoin

Early Tuesday, Metaplanet (TYO: 3350) announced plans to use the ¥52 billion ($340 million) it raises from its new zero-coupon convertible bonds to pay down Bitcoin-backed loans and buy back its own shares. The October 13 filing with the Tokyo Stock Exchange confirmed that the funds from the zero-coupon convertible bonds maturing in 2031 issued by the firm with the world’s second-largest corporate Bitcoin treasury will not go to adding to its Bitcoin pile.

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