Tokyo-listed publicly traded firm, Metaplanet has announced plans to issue 4.5 billion Yen in bonds for Bitcoin expansion. Metaplanet confirmed the development in a document released today on its official Twitter page.
It is worth noting that the 4.5 Billion Yen offering is the company’s fourth Series of Ordinary Bond issuance since it adopted Bitcoin as a strategic reserve asset. However, unlike the previous bond issuance, the new offering carries zero interest rate.
According to Metaplanet’s document, the redemption funds will be paid from the exercise proceeds of previously issued warrants. The bonds are structured with a six-month maturity period and will be available for redemption on June 16, 2025, at their full face value of ¥100 per ¥100 denomination.
The 4.5 billion Bond issuance is scheduled to commence immediately after all guarantees and collateral arrangements are completed. As revealed, the proceeds from the bond will be set aside solely for the purchase of Bitcoin, aligning with the company’s plan to expand its cryptocurrency reserves.
After completing this bond issuance, Metaplanet plans to issue more offerings in the future, totaling up to 5 billion Yen in private placement bonds. According to the firm, the future bond will be handed out to the bondholders(EVO FUND) in one or multiple branches. Metaplanet plans to dedicate the funds realized to acquiring more Bitcoin.
Meanwhile, Metaplanet is currently the most prominent corporate holder of Bitcoin in the Asian market. Last month, it purchased BTC, bringing its total Bitcoin holding to 1,150.
Metaplanet partners with SBI to drive Bitcoin accumulation
At the beginning of the fourth quarter of this year, Metaplanet partnered with SBI, a popular banking partner of Ripple. According to SBI, the partnership geared towards increasing the drive for Bitcoin accumulation in the Asian Market. Similarly, the partnership also granted access to some regulatory-friendly institutional custody services.
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