Metaplanet Approves $328 Million Euro-Yen Bond for Debt, Buybacks

Metaplanet approved a $328 million equivalent five-year Euro-Yen convertible bond to refinance borrowings and fund share repurchases, reshaping the balance sheet of the Bitcoin-focused treasury company.

The zero-coupon bonds will be offered at 102.5% of face value and are scheduled to mature Oct. 29, 2031. Issuance is planned for Oct. 29, with a listing on the Singapore Exchange. The offering is intended for overseas markets excluding the United States.

Metaplanet also authorized a separate buyback program covering up to 200 million shares from Oct. 14, 2026, through Oct. 13, 2027. Unused bond proceeds designated for repurchases may be redirected to additional buybacks or debt repayment.

The transaction is designed to improve the company’s debt structure and financial flexibility rather than reduce its total liabilities outright. Metaplanet uses Bitcoin (BTC) as its primary treasury reserve asset.

The company named Merrill Lynch International as lead manager for the offering.