Wall Street Journal: Telegram to Raise $1.5 Billion Through Bond Deal, Investors Include Blackstone, Mubadala, and Citadel
According to The Wall Street Journal, Telegram plans to issue at least $1.5 billion in five-year bonds with an annual interest rate of 9% to repurchase debt issued in 2021 that is due next year. Investors include existing supporters Blackstone Group, Abu Dhabi's sovereign fund Mubadala, and new entrant hedge fund Citadel.
Bondholders can convert to shares at a discount when Telegram goes public in the future. Despite CEO Pavel Durov being restricted from leaving the country due to allegations of not cooperating with a French police investigation, Telegram is projected to achieve a profit of $540 million in 2024, with monthly active users surpassing 1 billion and paid users exceeding 15 million.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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