Telegram raised $ 1 billion through a private placement of convertible bonds.
March 12 Telegram Groupplaced five-year foreign currency bonds at 7% per annum, with a par value of $ 1,000, with a coupon period of six months
The bonds are placed until 2026 with the first payment in September of this year. The entry threshold was $500 thousand.
The bonds attracted investors with the possibility of converting bonds into shares with a 10% discount to the placement price when Telegram went public.
The demand for Telegram securities was understated due tolack of monetization. In addition, the failure to launch the TON project and the delay in payments to investors do not add to the company's positive image on the securities market.
It is the company's debt obligationsExperts cite the failed launch of the Telegram Open Network as the reason for the company’s hasty placement of bonds. Without borrowed funds, Durov will have to return his own money to investors.
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