#MetaplanetPlans52BillionYenZeroCouponConvertibleBonds 🔥 METAPLANET JUST DROPPED A MASTERCLASS IN BITCOIN TREASURY CAPITAL STRATEGY

¥52 Billion Zero-Coupon Convertible Bonds — Debt Restructuring + Aggressive Buybacks Without Selling a Single Bitcoin
This is not just another financing announcement.
This is Metaplanet executing with precision under its Project Nova vision.
On October 13, 2026, Tokyo-listed Metaplanet Inc. (TSE: 3350) announced the issuance of ¥52 billion (approximately $329–340 million) in zero-coupon Euro-Yen convertible bonds due October 29, 2031.
The Numbers That Matter
Net proceeds: ~¥51.9 billion
¥23.6 billion → Immediate repayment of Bitcoin-collateralized loans
Up to ¥28.3 billion → Share buybacks (part of a newly authorized program of up to ¥60 billion / 200 million shares)
These are zero-coupon bonds. That means zero interest payments for five full years. Unsecured. No credit rating needed. Listed on the Singapore Exchange. Sole bookrunner: Merrill Lynch International. Targeted at European and Asian investors (U.S. excluded).
Why This Move Is Extremely Smart
Metaplanet’s Bitcoin-backed credit facility had drawn roughly $650 million and pushed leverage above its internal target (reaching ~17.7% of BTC NAV vs a preferred 10% guideline).
By refinancing with zero-interest, unsecured, long-term capital:
✅ It releases Bitcoin currently pledged as collateral
✅ It eliminates ongoing interest costs on that portion of debt
✅ It reduces reliance on secured, Bitcoin-linked borrowing
✅ It protects the entire 44,000 BTC treasury — not a single coin is sold
✅ It funds significant share buybacks designed to offset potential conversion dilution and increase Bitcoin holdings per share
This is balance-sheet optimization at the highest level. The company is improving the quality of its liabilities while simultaneously shrinking the share count and strengthening per-share Bitcoin exposure.
The Bigger Picture — Project Nova
Metaplanet is no longer just a Bitcoin treasury company. Through strategic acquisitions (including securities and platform businesses), it is building a full Bitcoin-centric financial infrastructure spanning Japan and the United States. This convertible bond issuance is a key financing pillar supporting that evolution.
Zero coupon. Long duration. Debt quality upgrade. Buybacks. Bitcoin intact.
This is how sophisticated Bitcoin treasury companies are supposed to operate in 2026.
Metaplanet just showed the market what disciplined capital allocation looks like.
Stack smarter.
Structure better.
Hold stronger.