Telegram plans to issue $1.5 billion in bonds, with investors including Blackstone, Mubadala, and Citadel

According to The Wall Street Journal, Telegram plans to issue at least $1.5 billion in five-year bonds with an annual interest rate of 9% to repurchase debt issued in 2021 that will mature next year. Investors include existing supporters Blackstone Group, Abu Dhabi sovereign fund Mubadala, and newly joined hedge fund Citadel. Bondholders can convert into shares at a discounted price when Telegram goes public in the future. Despite CEO Pavel Durov being restricted from leaving the country on suspicion of failing to cooperate with French police investigations, Telegram achieved a profit of $540 million in 2024, with over 1 billion monthly active users and over 15 million paying users.