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WSJ: Telegram will raise $1.5 billion through bond trading.
[WSJ: Telegram to raise $1.5 billion through bond deal] Telegram plans to issue at least $1.5 billion in five-year bonds with an annual interest rate of 9% to buy back debt issued in 2021 and due next year. Investors include existing backers BlackRock Group, Abu Dhabi sovereign wealth fund Mubadala, and new hedge fund Citadel. Bondholders can convert into shares at a discounted price when Telegram goes public in the future. Although CEO Pavel Durov was restricted from leaving the country for allegedly failing to cooperate with the French police investigation, Telegram achieved a profit of $540 million in 2024, with more than 1 billion monthly active users and more than 15 million paying users.