Metaplanet, the world’s second-largest Bitcoin treasury company with 44,000 BTC worth $3.6 billion, plans to issue zero-coupon euro-yen convertible bonds worth 52 billion yen ($329 million) maturing in 2031. About 23.6 billion yen ($149 million) will be used to repay Bitcoin-collateralized loans, and 28.3 billion yen ($179 million) will fund share buybacks under a program targeting up to 60 billion yen ($380 million). The move aims to improve the company’s debt structure without selling any Bitcoin holdings. The stock closed 1.5% lower in Tokyo on Tuesday, down 52.6% over the past twelve months.
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