The Wall Street Journal: Telegram will raise $1.5 billion through bond trading, with investors including Blackstone, Mubadala, and Citadel

ChainCatcher news, 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 set to mature next year. Investors include existing backers Blackstone Group, Abu Dhabi sovereign fund Mubadala, and newly joined hedge fund Citadel.

Bondholders will have the option to convert their bonds into shares at a discounted price 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 expected to achieve a profit of $540 million in 2024, with monthly active users surpassing 1 billion and paying users exceeding 15 million.