Breaking: Metaplanet Launches 51.9 Billion Yen Bonds To Buy More Bitcoin

HIGHLIGHTS Metaplanet announces ¥52 billion in zero-coupon convertible bonds. Out of this, ¥23.6 billion will repay borrowings, while up to ¥28.3 billion is earmarked for share buybacks. Metaplanet held 44,000 BTC as its borrowing-to-Bitcoin NAV ratio reached 17.7%. Metaplanet has announced almost ¥52 billion ($328.85 million) zero-coupon convertible bond issuance in order to restructure its debt and improve its financial position. It is projected to raise net proceeds of about ¥51.9 billion from the offering. It aims at reducing debt, which could, in turn, help in acquiring Bitcoin in the future.