Telegram issues $330 million bonds – Kommersant
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Telegram founder Pavel Durov said bonds worth $330 million were issued last week to speed up the company’s expansion. According to Mr. Durov, the terms of the issue were the most favorable for the company, and they were bought by “global funds of the highest level with an impeccable reputation.” He did not specify which funds he was talking about.
“The increased demand for our bonds shows that global financial institutions value the growth of Telegram’s audience and monetization. This will further strengthen our position as an independent platform capable of challenging the Goliaths of our industry,” Pavel Durov wrote in his Telegram-channel.
For the first time Telegram released five-year bonds in 2021 for more than $1 billion. The bond rate was 7% per annum. In April of the same year, Russian media reported about the company’s intention to place additional five-year bonds worth $750 million. In July 2023 Telegram released securities totaling approximately $270 million with the goal of reaching a break-even point.
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