Metaplanet Issues 52 Billion Yen Zero-Coupon Convertible Bonds for Debt Repayment and Share Buybacks

Odaily News: Metaplanet has announced the issuance of zero-coupon euro-yen convertible bonds maturing in 2031, with a total scale of 52 billion yen, issued at 102.5% of face value. The bonds will be listed on the Singapore Exchange on October 29, with Merrill Lynch International serving as sole bookrunner. Net proceeds of approximately 51.9 billion yen will be raised, of which approximately 23.6 billion yen will be used to repay the Bitcoin-backed credit facility, which currently has an outstanding balance of approximately $650 million; up to 28.3 billion yen will be used for share buybacks, covering approximately 97.94 million shares, representing approximately 7.1% of issued shares, to offset potential dilution and increase Bitcoin holdings per share. This financing is a key component of Metaplanet's "Project Nova" strategy. Metaplanet currently holds 44,000 Bitcoin, with operations spanning financing, asset management, settlement, and financial product development, and plans to transform from a Bitcoin holder into a Bitcoin-centric native financial platform. The company completed the acquisition of Metaplanet Securities and Superplanet (Nasdaq: SUPA) in 2026, establishing them as the operational foundation for Japan-U.S. capital markets.