Metaplanet seeks $340M to repay Bitcoin loans, buy back shares

Japanese Bitcoin treasury company Metaplanet has announced plans to issue ¥52 billion, approximately $340 million, in zero-interest convertible bonds due in 2031, using the funds to repay Bitcoin-backed loans and finance share repurchases. Metaplanet plans ¥52 billion in zero-interest convertible bonds maturing in October 2031, its filing confirmed. The company earmarked ¥23.6 billion for debt repayment and up to ¥28.3 billion for buybacks. Metaplanet held 44,000 Bitcoin at September's end, according to its latest corporate bond issuance filing. Existing Bitcoin-backed borrowing reached approximately $650 million, exceeding the company's preferred leverage ratio in September.

Also reported by The Coin Republic.

Source: crypto.news