Metaplanet launches ¥52B bond for debt repayment, buybacks

6.8 Investments

Oct 13, 2026

Metaplanet will issue ¥52B in zero-coupon convertible bonds to repay Bitcoin-backed loans and buy back shares, with no funds for new Bitcoin purchases. Bonds mature in 2031 and are convertible to shares.

Metaplanet has announced the issuance of ¥52 billion (approximately $328–340 million) in zero-coupon Euro-Yen convertible bonds maturing in 2031. The company expects to net around ¥51.9 billion from the offering, which will be used to repay existing Bitcoin-backed loans and repurchase company shares. Notably, no funds from this issuance will be allocated for additional Bitcoin purchases. Of the total proceeds, approximately ¥23.6 billion is designated for debt repayment, while up to ¥28.3 billion will be used for share buybacks. The unsecured bonds, issued at 100% of face value (offered at 102.5%), carry no interest and can be converted into ordinary shares between November 2026 and October 2031. Merrill Lynch International will lead the overseas offering, excluding the United States, with plans to list the bonds on the Singapore Exchange. This strategic move aims to reduce Metaplanet’s leverage, which had exceeded its preferred limit, and to enhance shareholder value without selling any Bitcoin holdings.