Telegram, the popular messaging platform, has recently conducted another issue of corporate bonds aimed at further development. Pavel Durov, the founder and head of the platform, made the announcement on March 18, regarding this latest bond issuance.
The bonds, valued at $330 mn, were issued in the previous week, with Durov noting that the volume of applications exceeded the supply. The circle of buyers included top-level global funds with an impeccable reputation.
Durov emphasized that the bond conditions, adjusted for the U.S. Federal Reserve key rate, were the most favorable for Telegram in the company's history.
The growing demand for Telegram bonds indicates positive growth estimates both in terms of audience and monetization, according to Durov. He believes that this bond release will reinforce Telegram's position as an independent platform capable of challenging industry giants.
This recent bond issuance follows Telegram's previous bond offerings. In March 2021, the company issued its first five-year bonds worth over $1 bn at an annual rate of 7%. Subsequently, in April of the same year, reports emerged that Telegram was planning to issue additional five-year convertible bonds for $750 mn.
Another bond release occurred in July 2023, when the platform sold bonds totaling $270 mn. Approximately a quarter of these bonds were purchased by Pavel Durov himself.
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