⚡️ Telegram raises $1.7B through new bonds

Telegram has successfully raised $1.7 billion by issuing new convertible bonds — $955M of which will be used to buy back 2021 bonds nearing maturity in 2026.

💘 The 5-year bonds offer a 9% annual yield and can convert into shares with a 20% discount if Telegram goes public.

💘 Bloomberg reports an additional $745M in fresh investment.

💘 According to Pavel Durov, strong demand for the messenger allowed Telegram to expand the offering beyond the initial $1.5B target.

💘 The funds will enable Telegram to repay its remaining 2021 bonds, which mature at the end of 2026.

Durov calls investor interest “phenomenal” and predicts a strong financial future for Telegram. The new bonds mature in June 2030.

@durovs_code