According to the official announcement by Metaplanet Inc. (TSE: 3350), the company has decided to issue zero-coupon euro-yen convertible bonds maturing in 2031, with a total size of JPY 52 billion (issued at 102.5% of par value), which will be listed on the Singapore Exchange on October 29, with Bank of America Securities serving as the sole bookrunner.
The net proceeds of approximately ¥51.9 billion will be used to: repay approximately ¥23.6 billion in bitcoin-collateralized credit facilities (current balance of approximately $650 million); and repurchase up to ¥28.3 billion worth of shares (approximately 97.94 million shares, or about 7.1% of outstanding shares), to offset potential dilution and increase BTC holdings per share.
This financing is a key component of the company’s “Project Nova” strategy. Metaplanet currently holds 44,000 BTC and is transitioning from a passive Bitcoin holder to a native financial platform centered on Bitcoin, with businesses spanning financing, asset management, settlement, and financial product development. Metaplanet has already completed its acquisitions of Metaplanet Securities (formerly Siiibo Securities) and Superplanet (Nasdaq: SUPA, formerly Super League Enterprise) in 2026, establishing the foundational platforms for its capital markets operations in Japan and the United States, respectively.
Metaplanet issues 52 billion yen zero-coupon convertible bonds for debt repayment and share buyback.
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Summary
Metaplanet issues 52 billion yen in zero-coupon convertible bonds for debt repayment and share buyback, marking a key announcement under its strategic shift. The bonds, maturing in 2031, will list on the Singapore Exchange on October 29, with Merrill Lynch as bookrunner. Proceeds will repay 23.6 billion yen in Bitcoin-secured loans and fund a 28.3 billion yen share buyback. This on-chain development reflects Metaplanet’s Project Nova, aimed at evolving into a Bitcoin-native financial platform.
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