Metaplanet has partially redeemed an additional 5.25 billion JPY (35.5m) of Ordinary Bonds. We now have 18,991 BTC (312 billion JPY / 2.11b) against 9 billion JPY (60.9m) of outstanding bonds, raising our BTC Rating (BTC NAV / Notional Liabilities) to 34.65x.(Dylan LeClair)