1005 Alcyon Dr Bellmawr NJ 08031
+1 484-446-2566
support@bmcpros.com
Telegram, a messaging platform, raised $1.7 billion in recent bond products, which closed at 9% coupons on May 28.
According to Bloomberg, the company will use a portion of its earnings to pay $955 million in debt from mature bond issuances in 2026. The remaining $745 million is new capital for growth and operating costs.
In a telegram post, Pavel Durov, co-founder of the telegram, wrote:
“Investor responses were amazing. We are very grateful for the investment funds that have supported us over the years. We expanded our product to the initial $1.5 billion due to strong demand, but demand is still far beyond what we can allocate.”
Telegram continues to draw investors’ attention as crypto-friendly messaging companies expand their global reach and capabilities. The platform is widely used in crypto communities and is seen as a tool to promote mainstream adoption.
Investors participating in the sale, including asset manager BlackRock and Abu Dhabi investment company Mubadala, can choose to buy Telegram’s stock at a 20% discount.
Related: Telegram closes “the largest Darknet market ever”
Telegram’s tentative deal with Musk’s Xai
The bond sale comes after several recent advances in the Telegram, including a deal between Message Company and Elon Musk’s Xai, the artificial intelligence company behind Grok.
Telegram and XAI reportedly agreed to let telegram users visit Grok for 1 year, Durov wrote in a May 28 X post. The company will receive $300 million in cash and equity from XAI, “50% of revenue from XAI subscription sold through telegram.”
Musk later denied that the agreement between the two companies had been signed. According to Durov’s response, the formalities for the transaction are “pending”.
Telegram’s sole digital asset (TONCOIN (TON)) received over 20% on May 28 to $3.69 on May 28.
Magazine: Did Pavel Durov of the Telegraph commit a crime? Encryption lawyer weight