Japanese Bitcoin Company Metaplanet’s 52 Billion Yen Bitcoin Plan: Debt to be Paid Off, Shares to be Buyback! Here are the Details

Japanese Bitcoin company Metaplanet will issue zero-interest convertible bonds to reduce its secured loans and repurchase its own shares. Metaplanet, a Japan-based Bitcoin treasury company, is preparing to issue 52 billion yen worth of zero-interest convertible bonds to restructure its balance sheet. These bonds, equivalent to approximately $329 million, are set to mature in 2031. According to the company's statement, of the approximately 51.9 billion yen net proceeds from the issuance, 23.6 billion yen will be used to repay Bitcoin-backed loan debts in November. A maximum of 28.3 billion yen will be allocated for the repurchase of Metaplanet shares.