Strategy to retire $1.5 billion in convertible notes at a discount, may sell bitcoin to fund buyback
The Block
Strategy plans to buy back $1.5 billion in debt at a discount, potentially using bitcoin sales alongside cash and equity offerings.Summary
Strategy (NASDAQ: MSTR) has entered into agreements to repurchase $1.5 billion of its 2029 convertible notes for approximately $1.38 billion, effectively retiring the debt at a discount. The company indicated that funding for this buyback could come from cash reserves, equity offering programs, or the sale of bitcoin holdings. While Strategy remains a "net accumulator" of bitcoin, executive chairman Michael Saylor has noted that the firm may sell portions of its stockpile to meet financial obligations, with plans to replace sold coins through ongoing purchases.
(Source：The Block)