Metaplanet Redeems Zero Coupon Bonds Early

CN
8 days ago

Metaplanet, the Japanese hotel developer turned bitcoin treasury firm, announced on Monday that it had fully redeemed or paid off ¥2 billion ($13.5 million) worth of zero coupon bond debt more than five months early (the bonds had a maturity date of Sept. 17, 2025). Funds raised by the bond issuance were used to purchase bitcoin as part of the firm’s strategy to own 21,000 bitcoins by 2026. The firm currently holds 4,206 BTC, which it claims is more than any other publicly traded Asian company. Firms typically pay off such debt earlier than required when it’s economically advantageous to do so, such as when rates subside or when a company has excess cash and wants to remove debt from its balance sheet.

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