Metaplanet plans to issue 52 billion yen, about $329 million, in convertible bonds that pay no interest. The bonds are euro-yen convertibles with a five-year term and come due in 2031. Cointelegraph reported the plan on Oct 13, 2026.
The company says the money will go toward paying down debt and funding share buybacks. Its stated goal is a better debt structure that relies less on loans backed by Bitcoin as collateral. It wants to do this without selling any of the Bitcoin it holds.
Several details are not in the report. It does not give the conversion price, the size of the buybacks, the exact loans being repaid, or when the bonds will be sold. Until those terms are published, the full effect on the company's balance sheet is not known.
For anyone already holding a perpetual position on Bitget, Bybit, MEXC or OKX, this changes nothing directly. The plan does not involve any of those exchanges, and the report says nothing about funding rates, trading fees or order-book liquidity. The one market-relevant detail is that Metaplanet says it is not selling Bitcoin as part of this plan.
Source: cointelegraph — Metaplanet to issue $329M convertible bonds to pay debt, fund share buybacks
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