Summary
- The Wall Street Journal reported that Telegram plans to issue bonds worth $1.5 billion to raise funds.
- The bonds have a 5-year maturity with a yield of 9%, and major investors like BlackRock are participating.
- Despite the founder's legal issues, investors are showing trust in Telegram, aiming for $2 billion in revenue by 2025.
Telegram is set to raise funds through a bond issuance, amounting to a staggering $1.5 billion.
On the 28th (local time), the Wall Street Journal (WSJ) reported, citing informed sources, "Telegram plans to issue corporate bonds worth $1.5 billion to raise funds," and "BlackRock, Abu Dhabi's state-owned investment firm Mubadala, and Citadel are participating." The bonds are known to have a 5-year maturity with a yield of around 9%.
The media stated, "Despite the legal crisis surrounding the founder, the market trusts Telegram," and "Telegram's projected performance for 2025 is expected to reach $2 billion in revenue." Pavel Durov, the founder of Telegram, is under preliminary indictment for allegedly not cooperating with French authorities in an illegal content investigation.
Meanwhile, The Open Network (TON), a Telegram-based network, also showed an upward trend on the news. As of 6:21 PM, it is trading at $3.107 on the Binance USDT market, down 0.60% from 24 hours ago.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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