Telegram Secures $1.5 Billion Through Bond Offering with 9% Yield
Telegram is raising at least $1.5 billion through a five-year bond offering with a 9% yield. Key details include:
- Interest from investors like BlackRock and Mubadala, as well as Citadel.
- Proceeds will repurchase debt from a previous bond issuance due in March 2024.
- The new bonds can convert into equity at a discount if Telegram goes public.
- Telegram has developed the layer 1 network TON and plans to tokenize $500 million of its debt.
- The platform has over 1 billion monthly active users and 15 million paid subscribers.
- Reported a $540 million profit on $1.4 billion revenue in 2024, projecting over $700 million profit for 2025.
- Revenue growth attributed to expanded advertising, in-app gifts, and developer features.