MicroStrategy Convertible Bond Complex: Maturities, Conversions & Refinancing

MicroStrategy (MSTR) has an outstanding convertible debt complex of approximately $8.2 billion, staggered with long-dated maturities through 2032. The company recently refinanced its 2027 notes and issued new 2030 notes, signaling a proactive liability management strategy. Key decision points for refinancing and potential equity conversion are centered around 2027, with a significant maturity wall in 2028-2030.