Metaplanet $329M Convertible Bond Cuts Bitcoin-Backed Debt
Oct 13 2026 21:01 UTC - Abdelaziz Fathi
Metaplanet raises ¥52bn ($329M) via zero-coupon convertibles due 2031 to repay Bitcoin-backed loans and fund up to ¥28.3bn of buybacks, not to buy more BTC.
➤ Metaplanet is issuing $329M in zero-coupon convertible bonds to repay Bitcoin-backed loans and fund share buybacks, rather than acquire more Bitcoin.
➤ This move aims to reduce leverage on its Bitcoin holdings, mitigating the risk of forced sales during market downturns and changing its financing structure.
➤ The financing strategy involves exchanging collateral and interest risk for potential future equity dilution, with the goal of reducing its share base when management deems shares undervalued relative to Bitcoin holdings.
Read more at: https://rwatimes.io/articles/financefeeds-metaplanet-329-m-convertible-bond-cuts-bitcoin-backed-debt-908931863?utm_source=binance
Oct 13 2026 21:01 UTC - Abdelaziz Fathi
Metaplanet raises ¥52bn ($329M) via zero-coupon convertibles due 2031 to repay Bitcoin-backed loans and fund up to ¥28.3bn of buybacks, not to buy more BTC.
➤ Metaplanet is issuing $329M in zero-coupon convertible bonds to repay Bitcoin-backed loans and fund share buybacks, rather than acquire more Bitcoin.
➤ This move aims to reduce leverage on its Bitcoin holdings, mitigating the risk of forced sales during market downturns and changing its financing structure.
➤ The financing strategy involves exchanging collateral and interest risk for potential future equity dilution, with the goal of reducing its share base when management deems shares undervalued relative to Bitcoin holdings.
Read more at: https://rwatimes.io/articles/financefeeds-metaplanet-329-m-convertible-bond-cuts-bitcoin-backed-debt-908931863?utm_source=binance