Telegram's $330M Bond Sales Success

Telegram, the messaging giant, recently secured a whopping $330 million through bond sales, as announced by CEO Pavel Durov. The offering was oversubscribed, with terms that favored the company. Durov expressed his delight at the participation of top-tier global funds with stellar reputations. The bond terms, adjusted for the Federal Reserve rate, were the most favorable in Telegram's history. While specific institutions were not named, Durov emphasized the high regard global financial institutions have for the company's growth trajectory. In a recent interview with the Financial Times, Durov revealed Telegram's goal of achieving profitability next year and hinted at a potential IPO. The current yield of the bonds stands at 7.7%, with a maturity date set for 2026 or the company's public listing, whichever comes first. This issuance saw bonds priced at $91, a significant increase from the previous $78 issue. With over 900 million users, Telegram has been diversifying its revenue streams through avenues like ads, blockchain-based username sales, and premium subscriptions. Notably, the company also introduced a subscription model for personal users to convert to business accounts, showcasing its commitment to innovation and financial independence.