Metaplanet Launches $329M Convertible Bonds to Cut Bitcoin Loan Reliance

Metaplanet announced a 52 billion yen ($329 million) convertible bond offering , carrying a 0% interest rate and maturing in 2031. The Japanese company will use the proceeds to reduce its Bitcoin-backed loans and finance share buybacks. According to the announcement , the company will allocate approximately 23.6 billion yen ($149 million) to repay BTC-backed debt and another 28.3 billion yen ($179 million) to repurchase its own shares. The transaction will allow Metaplanet to reduce its reliance on cryptocurrency-backed loans without having to sell any of its Bitcoin holdings .