Telegram will place additional 5-year convertible bonds
Telegram Group Inc., which develops the Telegram messenger, including judiwin66, will place additional five-year convertible bonds. Interfax was informed about this by several sources who recei
ved an offer to participate in the deal.
In March of this year, Telegram placed 5-year convertible bonds maturing in March 2026 for $ 1 billion at 7% per annum. Among the buyers was the Russian Direct Investment Fund. The additional issue has the same parameters as the main issue, including payments on a semi-annual basis.
The deal is in the private placement format. Calculations on it will take place on May 6.
The owners of the bonds will have the right to convert them into Telegram shares in the event of the company’s IPO with a discount of 10% to 20%, according to the materials for the placement, which were received by potential investors.
The volume of placement of the additional issue is not indicated in the materials, it is only noted that it is planned at an indicative level. The Vedomosti newspaper, citing sources, writes that it could amount to $ 750 million.
Telegram is one of the most popular and dynamically growing messengers in the world. However, until now the company has not implemented any of the monetization models (such plans in 2021, its founder Pavel Durov said earlier). In 2018, the company launched an ICO, but the placement of tokens, in which at that time many large entrepreneurs and investors had already participated, was banned by the American authorities.
Following an out-of-court agreement with the US Securities and Exchange Commission, Telegram was forced to return more than $ 1.2 billion to investors of the TON blockchain platform last year.