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Metaplanet plans to issue 52 billion yen in convertible bonds to repay its Bitcoin-backed loan.

PANews October 14 news, according to Metaplanet's official announcement, Japanese Bitcoin treasury company Metaplanet plans to issue zero-interest unsecured convertible bonds with a total amount of 52 billion yen (approximately US$340 million) maturing on October 29, 2031, with an issuance date of October 29 and net proceeds of approximately 51.9 billion yen. Of this, approximately 23.6 billion yen will be used in November to repay part of a Bitcoin-backed credit facility, which has a maximum limit of US$800 million and had approximately US$650 million drawn as of September 30; up to 28.3 billion yen will be used for share buybacks from October to December, including an off-auction buyback of up to 25.3 billion yen planned to be implemented on October 14 through ToSTNeT-3. The initial conversion price has not yet been determined.

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