Telegram Raises $1.5B in Bond Sale Despite CEO’s Legal Challenges
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Telegram raises $1.5 billion through a five-year bond with a 9% yield CEO Pavel Durov faces criminal charges in France and cannot leave the country Telegram reports $540 million profit in 2024, with revenue projected to hit $2 billion in 2025. Telegram is set to raise $1.5 billion in a bond sale today, despite ongoing legal issues involving its CEO, Pavel Durov, in France. According to The Wall Street Journal, the five-year bonds offer a 9% annual yield and have attracted major global investors. The proceeds will be used to refinance existing debt. Notable participants include BlackRock and Mubadala, Abu Dhabi’s state-owned investment firm. Hedge fund Citadel is also expected to join as a new investor. The bond terms include an option for investors to convert their holdings into equity at a discount, should Telegram go public. However, an IPO is unlikely in the near term due to Durov’s legal situation and ongoing market volatility. The funds will primarily be used to repurchase debt from Telegram’s 2021 bond issuance, which matures in March 2025. Telegram has already used its cash reserves to buy back approximately $400 million of that debt. Re… The post Telegram Raises $1.5B in Bond Sale Despite CEO’s Legal Challenges appeared first on Coin Edition .
Source: Coin Edition
