Telegram raises $1.7 billion in convertible bond offering
The messaging platform will use most of the proceeds to repay existing bondholders, with the remainder allocated as working capital to support ongoing operations.
Telegram, a messaging platform, raised $1.7 billion from investors in a recent bond offering featuring a 9% coupon that closed on May 28.
According to Bloomberg, the company will use a portion of the proceeds to pay $955 million in debt from a previous bond issue set to mature in 2026. The remaining $745 million is fresh capital for growth and operational costs.
Telegram co-founder Pavel Durov wrote in a Telegram post:
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