US company Strategy said in a filing that it repurchased US$1.5 billion of 0% convertible senior notes due 2029 for US$1.38 billion last week, using cash reserves instead of adding to its bitcoin treasury.

The transaction cut Strategy’s outstanding debt to US$6.7 billion from US$8.2 billion and left the company with about US$871 million in cash after related capital transactions.

The 2029 notes mature on December 1, 2029, carry no regular interest, and were initially convertible at about US$672.40 a share.

Strategy, which rebranded from MicroStrategy in February, said it uses debt and equity financing to accumulate bitcoin as its primary treasury reserve asset.

The company said it held 843,738 bitcoin bought at an average price of US$75,700 each, for a total cost of about US$63.9 billion.

It also issued US$2 billion of 2030 notes, while its debt page said the listed metrics exclude other indebtedness.

🔗 Source: CoinDesk

Recent Strategy developments