Telegram has placed $ 1 billion worth of bonds

News

Telegram has placed $ 1 billion worth of bonds

16.03.2021 News

Telegram Group of businessperson Pavel Durov placed five-year convertible dollar bonds on the market for the first time and raised $ 1 billion. The bond rate was 7% per annum, Forbes reported on Monday, March 15, citing one of the executives involved in the placement.

“Holders of Telegram bonds will be able to convert them into shares of the company in the event of an IPO with a 10 percent discount to the placement price. The placement was organized by Aton and VTB Capital,” the statement said.

According to RBC, the minimum lot for participation was $ 500 thousand. Bonds are placed until 2026. The first coupon payment is scheduled for September 2021.

Proceeds from the sale of bonds will be used by Telegram to cover debts. The company owed $ 684 million, of which $ 625.7 million in the middle of last year – debts on open credit lines maturing on April 30, 2021.

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