The Telegram gained $ 1.7 billion by the release of five-year-old bonds, aimed at reefinance with existing responsibilities and pushing payment deadlines.
The Messaging App, which now counts over 1 billion users, will use $ 955 million of new funds to buy bonds in return for 2026, The Bloomberg report. The remaining $ 745 million provides the company’s fresh capital to strengthen its operations or invest in growth.
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Investors in new bonds will have a shooting in converting their equity holdings if the Telegram goes public before the notes are mature. In that situation, they have to redeem at 80% of the initial price of the public offer.
The soft offer was closed on May 28, with the regulating expected on June 5. CoinDesk had earlier reported the Rotation is drawn interest from From the same return of investors like world -largest asset manager Blackrock and Abu Dhabi’s Sovereign Fund Fund, as well as new ones entering with the hedge fund Citadel
Notes carry a 9% coupon, two percentage points above the previous $ 2.35 billion Telegram bond released in 2021.
The Telegram passed $ 1 billion earning last year and was holding more than $ 500 million in cash reserves, excluding crypto, Bloomberg’s report added.
