Telegram founder Pavel Durov announced that the company issued 5-year bonds worth $1.7 billion at a 9% rate maturing in June 2030. At the same time, more than $950 million of bonds maturing in March 2026 were exchanged for a new issue.
Telegram founder Pavel Durov announced that the company issued 5-year bonds worth $1.7 billion at a 9% rate maturing in June 2030. At the same time, more than $950 million of bonds maturing in March 2026 were exchanged for a new issue.
«The investor response has been phenomenal. We are deeply grateful to the investment funds that have supported us over the years. Due to high demand, we expanded the offering beyond the initial $1.5 billion, but demand still far exceeded what we could allocate», — Durov said.
Investors in the new bonds can redeem them for 80% of the price of any initial public offering if Telegram decides to go public before the bonds mature, Bloomberg reported, citing sources. The exchange tender ended on May 28, and settlement is expected on June 5.
Earlier, Pavel Durov said that Elon Musk’s company xAI, which develops artificial intelligence, is investing $300 million in Telegram and integrating its technologies into its service. Elon Musk commented on this message and said that the deal has not yet been signed. Durov replied that the deal has already been reached, and only formalities remain.
According to a recent Telegram report, the service is growing rapidly and was able to move from a $173 million loss in 2023 to a $540 million profit in 2024. This was not hindered even by the Telegram founder’s problems with French law enforcement.
