Telegram Raises $1.5B Backed by Citadel

Telegram Raises $1.5 Billion in Bond Issue Backed by Citadel and BlackRock

• Telegram is issuing at least $1.5 billion in new bonds with a 5-year term at a 9% yield.
• Investors include Citadel, BlackRock, and Mubadala.
• The proceeds will be used to buy back Telegram’s 2021 bonds maturing in March 2026, with $400 million already repurchased.
• Pavel Durov, Telegram’s founder, faces legal challenges in France but has been allowed to return to Dubai.
• Telegram reported a $540 million profit after a previous loss of $173 million, driven by increased revenue from subscriptions and advertising.

Telegram is raising funds through a bond issue to manage existing debt while navigating legal issues involving its founder. The company has turned profitable, reporting significant revenue growth.