Metaplanet Plans $329M Convertible Bonds to Refinance Debt and Buyback Shares

Japanese Bitcoin -focused investment firm Metaplanet says it will raise 52 billion yen (about $329 million) through zero-coupon euro-yen convertible bonds due in 2031, according to a Tuesday company announcement. The financing is designed to strengthen its balance sheet while supporting capital returns to shareholders. Metaplanet plans to allocate roughly 23.6 billion yen (about $149 million) of the net proceeds to repay Bitcoin -collateralized loans, while setting aside about 28.3 billion yen (about $179 million) for share buybacks.

Source: Crypto Breaking News