Messaging -Platform Telegram collects at least $ 1.5 billion through a new bond offer.
The company collects the funds through a five-year bond with a 9% dividend, which has drawn interest from both recurring investors such as the world’s largest asset manager Blackrock and Abu Dhabi’s sovereign prosperity Fund Mubadala, as well as new participants, including Hedge Fund Citadel, reports the Wall Street Journal citing sources with the deal.
Revenue will be used to repurchase debt from Telegram’s previous bond issue in 2021, which will be next March. The new bonds can be converted into equity to a discount if Telegram becomes public.
Telegram originally developed LAG 1 network tion before it made it an independent operation. In April, tokenization company Libre said it is planning to tokenize $ 500 million value of telegram debt on tonnes such as Telegram Bond Fund (TBF).
Read more: Telegram’s Ton assumes assets in the real world with Libre’s $ 500 million.
Telegram reportedly has over $ 1 billion active users and 15 million paid subscribers after doubling the figure in one year according to Durov.
Financially, the company turned a corner in 2024 and reported a $ 540 million profit of $ 1.4 billion in revenue, up from a loss of $ 173 million in 2023, WSJ wrote. It projects a profit of more than $ 700 million for 2025.
Telegram has grown its revenue by expanding its ad business and introducing features such as digital gifts in the app and a platform for developers to build apps and bots.
Telegram and Citadel did not immediately respond to requests for comment.
