ChainThink news, October 13: According to a Metaplanet announcement, the company plans to issue zero-coupon European yen-denominated convertible bonds with a total principal amount of approximately USD 333 million (52 billion JPY), maturing in 2031.

This marks the company's first issuance of such bonds, priced at 102.5% of face value, listed on the Singapore Exchange, with Merrill International serving as the sole bookrunner.

The net proceeds from the issuance will be approximately USD 333 million (51.9 billion JPY), with about USD 151 million allocated to repay bitcoin-backed credit facilities and up to USD 181 million used for share buybacks; funds will not be used to purchase bitcoin.

As of September 30, Metaplanet holds 44,000 BTC, with outstanding borrowings under credit facilities amounting to approximately USD 650 million, representing about 17.7% of its Bitcoin Net Asset Value (BTCNAV), exceeding the company’s target ceiling of 10%.

The company plans to repurchase up to approximately USD 162 million of shares via ToSTNeT-3 on October 14 and has established a total share buyback authorization cap of approximately USD 385 million.