Metaplanet to issue $329M convertible bonds to pay debt, fund share buybacks

Metaplanet plans to issue zero-interest bonds with a five-year maturity to improve its debt structure and cut its reliance on Bitcoin-collateralized loans without selling holdings. Metaplanet will issue 52 billion yen ($329 million) in zero-coupon, euro-yen convertible bonds due in 2031. Japanese investment and Bitcoin treasury company plans to use about 23.6 billion yen ($149 million) of the net proceeds to repay Bitcoin-collateralized loans and about 28.3 billion yen ($179 million) for share buybacks, according to a Tuesday announcement .