Metaplanet Plans $333 Million Bond to Repay Debt and Buy Back Shares

Metaplanet plans to issue $333 million in zero-coupon euro-yen convertible bonds due in 2031, directing the proceeds mainly toward debt repayment and share repurchases rather than additional Bitcoin (BTC) purchases. The offering will be the Tokyo-listed company’s first issuance of this type of bond. The securities will be issued at 102.5% of face value and listed on the Singapore Exchange. Net proceeds are expected to total about $333 million. Metaplanet plans to use about $151 million to repay credit facilities secured by Bitcoin. It may allocate up to $181 million to repurchase its shares.

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