Metaplanet is set to raise ¥52 billion with a zero-interest convertible bond issue scheduled for October 29, 2026, and maturing in 2031. The company has become known for its sizable Bitcoin treasury, but this deal is about balance-sheet management, not simply accumulating more crypto.
Of the funds raised, ¥23.6 billion is intended for repaying Bitcoin-backed loans. That would release some of the Bitcoin previously pledged as collateral, giving the company more treasury flexibility. The bond is convertible, meaning investors could swap it for equity later under agreed terms. Issuing it at zero interest also points to a push for lower financing costs than conventional borrowing.
The remaining funds, up to ¥28.3 billion, may go toward buying back Metaplanet shares. That keeps the focus on debt refinancing and capital management.